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Forward industries have just made a huge move of $ 1.65 billion to anchor his treasury in Solana, supported by large crypto players. With the climbing of Solana, the market seems to support the bet.
Forward Industries has just made one of the most brave bets on crypto that we have seen from a public company. The Nasdaq-listed company made a private investment of $ 1.65 billion in a public shares (Pipe) to load his business treasury with Solana [SOL].
Supported by heavyweights, the movement now puts square in the spotlight.
Furmer bets on Solana
Under the leadership of Galaxy Digital, Jump Crypto and Multicoin Capital, De Ronde saw more than $ 300 million committed by the trio. This, in addition to support from biteless, boundless capital, skybridge and a slate of crypto founders and angels.
The move will reform Forward’s balance, Put Sol to the core. To strengthen the strategy, Kyle Samani from Multicoin comes in as chairman of the board, with Galaxy’s Chris Ferraro and Jump’s Saurabh Sharma who participates in as observers.
As expected, the market reaction was immediately. The share price even divided with 15% into pre-market trade before cooling.
Is it in Elite Company?
Look at Solana’s largest business holders emphasized the scale of the newest move from Forward.
Source: Strategic Solana Reserve
Sharps technology leads with 2.14m Sol, closely followed by Defi Development Corp. and Upexi with approximately 2 m sol. Galaxy Digital stands at 1.35 m SOL worth $ 320.9 million, while smaller players such as Mercurity Fintech and ISpecimen complete the list.
For comparison: the allocation of $ 1.65 billion of Forward will immediately place it above these names – making it one of the most aggressive Solana Treasury treasure pieces so far.
OI rises as Solana pushes higher
Source: Coinalyze
On the back of this step, the aggregated open interest rowed $ 8.2 billion, in which traders stacked in positions instead of cashing.
In the field of price, SOL increased to $ 238, an increase of 4.2% in the day, with its RSI just below the Overboughtzone.
Source: TradingView
The MACD was also firm in a positive area, which underlined strong upward pressure on the charts.
Finally, both spot and derivatives action revealed when both spot and derivatives revealed persistent appetite. This makes Forward’s $ 1.65 billion treasury bet more on a calculated strike.
If there is something, the market can now be ready to support it.