Forward Industries has expanded its Solana treasury by roughly 226,000 SOL since September ended, combining token purchases with staking rewards. Its total holdings reached about 8.7 million SOL, worth roughly $726.5 million. That balance represents around 1.5% of Solana’s total circulating supply.
The company leads publicly listed companies in Solana treasury holdings, according to Tuesday’s update. DeFi Development Corp. ranks second with just over 2.6 million SOL.
Forward Industries Secures $50M Credit Line
An unnamed U.S. national bank extended a $50 million credit facility to Forward Industries. Terms give the company access to the facility for two years. SOL backing the loan will remain staked, allowing the company to continue earning rewards.
Separately, Forward Industries committed up to $50 million to USHP, a tokenized product that tracks U.S. home prices. Galaxy-Sharplink Onchain Yield Fund also anchored the product’s launch. Management plans to use income from that investment to purchase more SOL for its treasury.
SOL and Company Shares Approach Three-Month Lows
Solana price fell around $81 during Tuesday’s trading, hitting its weakest level in almost three months. The token later recovered to trade at around $83.40.
Shares in Forward Industries also fell to $5.25, close to a three-month low. Losses since the start of the year now exceed 28% for the company’s stock.
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