đ° Just said Solana is cooling downâdoes Forward still want to buy a pile of âdog coinsâ?
Forward Industries said it wants to buy more Solana, and now itâs actually reaching for its wallet. The company plans to sell 3,125,000 shares at $8 per share, potentially earning $25 millionâthen using it all to buy and stock up on SOL. A couple of days ago, it even posted that Solana would be âcold,â but now itâs buying big. So whatâs going on?
Why is this news important?
Forwardâs move isnât a small fry. SOL is only around $121 right now, yet they want to take it all. That suggests they donât think it will break through to the downside. In other words, institutions donât believe Solana is finishedâsome even see this as a bargain. Compare it with Bitcoin: at $8,394, people are still watching from the sidelines, which shows that in the eyes of institutions, SOL is an unconventional investment opportunity.
Impact on the market
In the short term, this deal could push SOL up a bit, but $121 is still far from âcrazy.â If Forwardâs buying isnât the end of it, it likely means more money will flow in. For the whole crypto market, this implies that although BTC and Ethereum are struggling, there are still institutions betting that smaller coins can turn into something special. A historical reference: before Ethereumâs explosive rally in 2018, there were similar kinds of frantic coin-hoarding behaviors by small institutions.
đĄ SOL may test the $126 resistance level next week due to this inflow. If, after this purchase, the price drops below $118 within the following days, this view becomes invalid.
ăAuthorâs styleăData-driven: Forward plans to spend $25 million to buy SOL, and SOL is only $121 nowâan extremely high value-for-money deal.
This article has no sponsorship from any project, and the author does not hold the assets mentioned
$BTC $ETH #BTC #ETH
â ď¸ Not investment advice; predictions are for reference only
#SpotBitcoinETFsInflow$2.31BInFourDays
Forward Industries said it wants to buy more Solana, and now itâs actually reaching for its wallet. The company plans to sell 3,125,000 shares at $8 per share, potentially earning $25 millionâthen using it all to buy and stock up on SOL. A couple of days ago, it even posted that Solana would be âcold,â but now itâs buying big. So whatâs going on?
Why is this news important?
Forwardâs move isnât a small fry. SOL is only around $121 right now, yet they want to take it all. That suggests they donât think it will break through to the downside. In other words, institutions donât believe Solana is finishedâsome even see this as a bargain. Compare it with Bitcoin: at $8,394, people are still watching from the sidelines, which shows that in the eyes of institutions, SOL is an unconventional investment opportunity.
Impact on the market
In the short term, this deal could push SOL up a bit, but $121 is still far from âcrazy.â If Forwardâs buying isnât the end of it, it likely means more money will flow in. For the whole crypto market, this implies that although BTC and Ethereum are struggling, there are still institutions betting that smaller coins can turn into something special. A historical reference: before Ethereumâs explosive rally in 2018, there were similar kinds of frantic coin-hoarding behaviors by small institutions.
đĄ SOL may test the $126 resistance level next week due to this inflow. If, after this purchase, the price drops below $118 within the following days, this view becomes invalid.
ăAuthorâs styleăData-driven: Forward plans to spend $25 million to buy SOL, and SOL is only $121 nowâan extremely high value-for-money deal.
This article has no sponsorship from any project, and the author does not hold the assets mentioned
$BTC $ETH #BTC #ETH
â ď¸ Not investment advice; predictions are for reference only
#SpotBitcoinETFsInflow$2.31BInFourDays
