Key facts
- Forward Industries transferred 455,784 SOL to Coinbase Prime.
- The SOL holdings were acquired for $1.59 billion since September 2025.
- The current value of the 6.83 million SOL holdings is approximately $458.6 million.
- The company has an unrealized paper loss of about $1.13 billion on its SOL investment.
- The purpose of the transfer to Coinbase Prime is not publicly disclosed.
Forward Industries has transferred 455,784 SOL, valued at approximately $31.87 million, to Coinbase Prime after a month of inactivity. This move, made during a market correction, raises questions about the company's treasury management strategy, with concerns about potential selling activity or custody changes. Forward Industries began accumulating SOL in September 2025, investing around $1.59 billion to acquire 6.83 million tokens at an average cost of $232.08 per SOL. Currently, these holdings are valued at approximately $458.6 million, resulting in a significant unrealized paper loss of about $1.13 billion. The company still holds 3.787 million SOL, valued at around $250 million. The exact purpose of the transfer to Coinbase Prime remains undisclosed, fueling speculation about whether Forward Industries intends to reduce its SOL position or maintain its Solana treasury strategy.