Key facts
- Forward Industries transferred 455,784 SOL to Coinbase Prime.
- The transferred SOL is valued at approximately $31.9 million.
- The company holds 6.83 million SOL with an unrealized paper loss of $1.13 billion.
- The average purchase price for the SOL was $232.08.
- The purpose of the transfer to Coinbase Prime is undisclosed.
Forward Industries transferred 455,784 SOL, valued at approximately $31.9 million, to Coinbase Prime. This move occurred after a month of inactivity and during a market correction, raising questions about the company's treasury management strategy and 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 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.