Forward Industries deposited 455,784 SOL worth approximately $31.87 million on Coinbase Prime on Friday after a month of dormancy, according to onchain tracker Lookonchain.
The transfer is the first significant move in the company’s treasury holdings in more than four weeks and lands amid a sharp Solana pullback that sent the token down 18.5% for the week.
The company launched its Solana treasury strategy in September 2025, spending approximately $1.59 billion to accumulate 6.83 million SOL at an average price of $232.08 per token. Solana is now trading at $66.51, bringing those same holdings to $458.6 million.
The underwater position currently stands at approximately $1.13 billion, representing a paper loss of over 70% per token.
A deposit on Coinbase Prime doesn’t necessarily mean the tokens will be sold, but it puts them within reach of a sale and undoes a month of inactivity that had kept the SOL position immobile.
Forward Industries is one of the Bitcoin Strategy Playbook’s most aggressive Solana Treasury imitators, and its cost basis above $230 places it among the most exposed companies if the current pullback continues.
