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- Forward Industries shifts $192M SOL; likely treasury reshuffle, not exit.
- Solana Strategies increases holdings, signaling long-term confidence.
- Technicals and positive funding rates suggest fresh accumulation phase.
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Forward Industries has shifted 993,058 Solana (SOL), worth around $192 million, to Coinbase Prime, alongside $50 million sent to Galaxy Digital. The move follows its high-profile $1.38 billion Solana purchase at $232 per token, fueling speculation about a strategic treasury adjustment rather than a market exit.
Meanwhile, Solana Strategies (NASDAQ: STKE) doubled down, acquiring 88,433 SOL at an average of $193.93, including 79,000 locked tokens from the Solana Foundation. Its total treasury now stands at 523,433 SOL, signaling long-term confidence. This contrasting behavior—one firm reducing exposure while another accumulates—reflects a broader market divide between cautious short-term positioning and strategic optimism. Historically, such splits often precede directional clarity for large-cap cryptocurrencies.
Solana Bounces From Key Demand Zone
Technically, Solana has recovered after testing the $176 demand zone, trading near $206 at the time of writing. The Relative Strength Index (RSI) sits at 49.41, indicating buying momentum returning after brief oversold conditions. Additionally, the 9-day Moving Average crossing above the 21-day MA signals a potential bullish shift.
Analysts suggest that if Solana sustains this momentum and breaks the $222 resistance, the next target could approach $262. Strengthening technical indicators point to a gradual tilt in favor of buyers after recent corrections.
Funding Rates and Market Sentiment
Derivatives markets also show early signs of optimism. Solana’s Funding Rate currently reads +0.005%, highlighting increased long-position activity. Positive funding rates typically indicate traders are willing to pay premiums for upside exposure, reflecting a quiet but steady return of confidence. This aligns with stable price action above $200, signaling improving sentiment in both spot and derivatives markets.
Accumulation Phase Underway
Overall, Forward Industries’ transfers likely indicate treasury reshuffling rather than panic selling, while Solana Strategies’ purchases reinforce ongoing institutional accumulation. Combined with positive technical indicators and rising derivatives confidence, the market appears to be entering a fresh accumulation phase for Solana, driven by strategic institutional interest.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Reasons Solana’s Treasury Boom Could Outshine Bitcoin and Ethereum — Before It’s Too Late
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
