Forward Industries Lifts Solana Holdings to 8.73M SOL as Price Dips to $82

Forward Industries (NASDAQ: FWDI) said in a November 10 update that its SOL holdings rose to 8,727,694 as of November 9, up from 8,501,298 on September 30. The company reported adding 226,396 SOL, a 2.7% increase, at an average cost of $75 per token. That average includes SOL earned through staking, which the company assigns no cash cost.

Holdings include SOL, fwdSOL and pledged SOL, and exclude borrowed SOL. The Block reported that this equals about 1.5% of Solana’s circulating supply and was worth roughly $726.5 million, while DeFi Development Corp, the closest rival, holds just over 2.6 million SOL. Fully diluted SOL per share rose to 0.0824 from 0.0806.

The Block reported that SOL fell as low as $82 on Tuesday, its lowest level in almost three months, before recovering to about $83.50. Forward shares also dipped to a near three-month low of $5.25 and are down more than 28% this year, according to The Block.

The preliminary, unaudited figures show net asset value of $600.3 million, down from $870.4 million on September 30, and institutional debt of $187.5 million, up from $167.5 million. The release did not explain either change. Forward also disclosed a two-year, $50 million credit facility priced at SOFR plus 150 basis points and secured by staked SOL, plus a commitment of up to $50 million to USHP, a tokenized U.S. home-price product. The Block did not report quarterly results, and the update covers the first six weeks of fiscal 2027.

Track the market yourself with AiTraderView’s FREE tools: Crypto Cockpit for charts and 75+ indicators, Crypto Screener to find setups, and Crypto Portfolio to follow your holdings. Just create a FREE account and try them yourself!

Sources:

• The Block: Forward Industries grows SOL treasury to 8.7 million as token hits nearly three-month low

• GlobeNewswire: Forward Industries Grows SOL Holdings to approximately 8.7 Million SOL