☀️ Forward Industries increases SOL holdings to 8.7 million as SOL hits a nearly three-month low
Forward Industries said it has added approximately 226,000 SOL through purchases and staking rewards since the end of September, bringing its holdings to about 8.7 million SOL (worth approximately $726.5 million), or around 1.5% of Solana’s circulating supply. The company remains the largest publicly traded holder of SOL, far ahead of DeFi Development Corp., which holds just over 2.6 million SOL.
The company also secured a two-year, $50 million credit facility from an unnamed U.S. national bank, collateralized by SOL that will remain staked. It also committed up to $50 million to USHP, a tokenized product tracking U.S. home prices, with plans to use investment returns to continue accumulating SOL. After the news was announced, SOL briefly fell to $82, while FWDI shares also hit a nearly three-month low of $5.25.
⭐ Even as prices weaken, companies are continuing to accumulate SOL and borrow against staked SOL, signaling continued institutional demand—but also increasing leverage tied to SOL’s price.
#Solana #SOL #CryptoReserves
Forward Industries said it has added approximately 226,000 SOL through purchases and staking rewards since the end of September, bringing its holdings to about 8.7 million SOL (worth approximately $726.5 million), or around 1.5% of Solana’s circulating supply. The company remains the largest publicly traded holder of SOL, far ahead of DeFi Development Corp., which holds just over 2.6 million SOL.
The company also secured a two-year, $50 million credit facility from an unnamed U.S. national bank, collateralized by SOL that will remain staked. It also committed up to $50 million to USHP, a tokenized product tracking U.S. home prices, with plans to use investment returns to continue accumulating SOL. After the news was announced, SOL briefly fell to $82, while FWDI shares also hit a nearly three-month low of $5.25.
⭐ Even as prices weaken, companies are continuing to accumulate SOL and borrow against staked SOL, signaling continued institutional demand—but also increasing leverage tied to SOL’s price.
#Solana #SOL #CryptoReserves
