🔥 Company with a treasury model moving their SOL. Are they gearing up to short? 🤔
Forward Industries, a Nasdaq-listed company, transferred approximately $31.9 million in #sol to Coinbase Prime on Thursday, as per on-chain data, marking their first action in a month.
According to the blockchain intelligence platform, @Arkham Intelligence, a wallet linked to Forward Industries moved about 455,784 SOL to the institutional trading platform. This transfer comes at a time when Solana's cryptocurrency, SOL, has dipped to nearly $60.
These detected transfers to the institutional trading platform don’t necessarily mean an immediate total sell-off, but could be interpreted as them getting ready to liquidate a specific amount. Perhaps they’re looking to gain some liquidity (like a smart strategy) or reduce their risks.
The company started accumulating SOL in September 2025 as part of its treasury strategy, buying 6.83 million SOL at an average price of $232. This way, Forward Industries became the largest company holding SOL in its treasury. Currently, the company has an unrealized loss of approximately $1.59 billion.
Do you think SOL has hit a bottom price, or will it continue to drop?
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$SOL
Forward Industries, a Nasdaq-listed company, transferred approximately $31.9 million in #sol to Coinbase Prime on Thursday, as per on-chain data, marking their first action in a month.
According to the blockchain intelligence platform, @Arkham Intelligence, a wallet linked to Forward Industries moved about 455,784 SOL to the institutional trading platform. This transfer comes at a time when Solana's cryptocurrency, SOL, has dipped to nearly $60.
These detected transfers to the institutional trading platform don’t necessarily mean an immediate total sell-off, but could be interpreted as them getting ready to liquidate a specific amount. Perhaps they’re looking to gain some liquidity (like a smart strategy) or reduce their risks.
The company started accumulating SOL in September 2025 as part of its treasury strategy, buying 6.83 million SOL at an average price of $232. This way, Forward Industries became the largest company holding SOL in its treasury. Currently, the company has an unrealized loss of approximately $1.59 billion.
Do you think SOL has hit a bottom price, or will it continue to drop?
👉 More crypto updates ...
Share and follow me for more 👈😎
$SOL