According to Lookonchain monitoring, after a month-long pause, Forward Industries deposited 455,784 SOL (approx $31.87 million) to Coinbase Prime. Since launching its Solana reserve strategy in September 2025, the company bought 6.83 million SOL at an average price of $232.08, investing a total of $1.59 billion. The holdings are now worth only $458.6 million, resulting in an unrealized loss of nearly $1.13 billion.
Forward Industries' Solana strategy faces over $1.13 billion unrealized loss
On-chain data from Lookonchain shows that after a month of inactivity, Forward Industries has deposited 455,784 SOL, worth approximately $31.87 million, into Coinbase Prime on June 5. This marks the whale's first significant on-chain transaction since May, representing about 6.67% of its total SOL holdings of 6.83 million tokens.
Since September 2025, Forward Industries has been accumulating SOL as part of its Solana reserve strategy. The company has invested a total of around $1.59 billion, acquiring 6.83 million SOL at an average cost of $232.08 per token. However, the prolonged decline in SOL's price has inflicted substantial paper losses. As of now, the market value of these 6.83 million SOL has shrunk to just $458.6 million. Compared with the total investment cost, the unrealized loss has ballooned to nearly $1.13 billion, reflecting a drawdown of over 71%.
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