Solana Drop Hits Forward Industries With $668M Unrealized Loss

Forward Industries (NASDAQ: FWDI), the largest institutional holder of Solana (SOL) with 1.124% of the circulating supply, is currently facing an unrealized loss of $668.73 million. The company's average purchase price was $230 per SOL, and its treasury is now valued at $917.42 million, down from an acquisition cost of $1.59 billion. This downturn reflects a broader market issue, with Glassnode data indicating that nearly 80% of SOL's circulating supply is currently underwater. Despite the stock price plummeting from $40 to $8.17, Forward Industries has maintained its treasury strategy, recently moving a large portion of SOL for staking rather than capitulating. This situation contrasts with other Digital Asset Treasury companies, some of which are realizing significant profits on Bitcoin holdings while others face substantial losses on Ethereum.

(Source：BeInCrypto)