Overview

• Forward Industries disclosed the purchase of 6,822,000 SOL for about $1.58 billion at an average price of $232, funded by a $1.65 billion PIPE led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
• The company said it executed both open‑market and on‑chain buys, including a $1 million trade via Solana DEX aggregator DFlow, and it has staked all acquired tokens as part of its treasury plan.
• On‑chain trackers report Galaxy Digital accumulated roughly 6.5 million SOL (about $1.55 billion) over several days in large blocks across multiple exchanges before moving the tokens to institutional custody on Fireblocks and Coinbase Prime.
• Additional managers signaled sizable positions and vehicles, with Pantera Capital saying it holds about $1.1 billion in SOL and Helius announcing a more than $500 million PIPE backed by Pantera and Summer Capital to build a SOL treasury.
• SOL trades near the $245–$250 resistance zone highlighted by analysts, who say a confirmed breakout could target the $270–$300 area as institutional flows reshape near‑term market structure.