Original report published November 11, 2026, at 05:50 UTC+8. The market readings and company disclosures below concern Tuesday, November 10.
Treasury holdings
Forward Industries said it held approximately 8.7 million SOL on Tuesday, worth roughly $726.5 million and representing about 1.5% of Solana’s circulating supply. It had added roughly 226,000 SOL through purchases and staking rewards since the end of September. Among publicly traded companies, Forward’s SOL treasury was the largest by a wide margin; the next-largest, DeFi Development Corp., held just over 2.6 million SOL.
Market snapshot
SOL fell as low as $82 on Tuesday—its lowest level in almost three months—before recovering to around $83.50. Forward’s shares, trading as FWDI, also touched a near-three-month low of $5.25, leaving them down more than 28% for the year to date. These are concurrent price readings, not evidence that the treasury update caused either move.
Financing and planned accumulation
Forward disclosed a two-year, $50 million credit facility from an unnamed U.S. national bank. The loan is backed by SOL that will remain staked, allowing the company to continue earning staking rewards. Forward also committed up to $50 million to USHP, a tokenized product tracking U.S. home prices whose launch was also anchored by the Galaxy-Sharplink Onchain Yield Fund. Forward said it plans to use income from that investment to buy more SOL; the amount of any future purchases was not specified.
Source: theblock.co (originally published 2026-11-11 05:50 UTC+8)
