Forward Industries Keeps Stacking Solana Even as SOL Sinks Toward a Three Month Low

Forward Industries now holds about 8.7 million SOL, valued near $726.5 million and equal to roughly 1.5% of all Solana in circulation. Purchases and staking rewards added around 226,000 tokens since the end of September. No other listed company comes close, since DeFi Development Corp, the nearest rival, holds just over 2.6 million SOL.

SOL and FWDI Prices Under Pressure

The update landed on a rough day. SOL touched $82, its weakest level in nearly three months, then bounced to about $83.50. Forward’s own stock hit a similar low of $5.25 and is down more than 28% this year.

New Credit Line and Tokenized Home Price Bet

Forward lined up a two year, $50 million credit facility from an unnamed US national bank. The loan is secured by SOL that stays staked, so rewards keep coming in. The firm also pledged up to $50 million to USHP, a tokenized product tracking US home prices, launched with support from the Galaxy Sharplink Onchain Yield Fund. Income from that investment is meant to fund further SOL purchases.