Largest Solana treasury company sells 455,000 SOL for $31.87 million

Forward Industries, the company with the largest Solana treasury in the world, is sending a large amount of SOL to an exchange for the first time in a month. In total, 455,784 SOL worth approximately $31.87 million are being transferred to Coinbase Prime. The move raises questions about the future of the company’s substantial SOL position, especially now that the Solana price is under severe pressure.

Solana is available at OKX and Bybit.

A Month of Silence, Then a Big Move

After an inactive period of one month, Forward Industries has made itself heard with a sizeable transfer. According to on-chain data from Arkham, the 455,784 SOL are being sent directly to a Coinbase Prime wallet. That is striking, because the company had been methodically building its position by buying no less than $1.59 billion worth of Solana since September 2025.

In total, Forward Industries now holds 6.83 million SOL, purchased at an average price of $232.08 per coin. With the current Solana price at $65.37 (a decline of 5.2% in the past 24 hours), the entire portfolio is still worth approximately $458.6 million. That represents an unrealised loss of nearly $1.13 billion relative to the average purchase price.

Loss Mounts as SOL Slides

The timing is notable. The market has been under pressure for some time and Solana trades well below the average price paid by Forward Industries. The question is whether the company is selling SOL to take a loss, to free up liquidity, or whether this is an internal restructuring of its treasury.

That Coinbase Prime has been chosen as the destination indicates an institutional transaction. Coinbase Prime is the trading arm for large clients, which points more towards a controlled sale or repositioning than a panic move. WuBlockchain reported the details of the transaction via the source below.