Forward Industries transferred 455,784 SOL to a Coinbase Prime wallet. The transaction is valued at approximately $31.87 million. This move marks the firm's first treasury activity in over a month.
Forward Industries remains the largest corporate holder of Solana with 6.83 million SOL. The firm acquired its total holdings at an average price of $232 per token. It currently faces an unrealized loss exceeding $1.1 billion.
Exchange deposits often precede asset sales, fueling market concerns of a major sell-off. Solana prices face renewed downward pressure as bearish sentiment grows. Related financial products like the SOLZ ETF are already experiencing notable investor outflows.