Forward Industries Adds 226K SOL and Secures $50M Credit Line

Forward Industries has expanded its Solana treasury by roughly 226,000 $SOL since September ended, combining token purchases with staking rewards. Its total holdings reached about 8.7 million $SOL, worth roughly $726.5 million. That balance represents around 1.5% of Solana’s total circulating supply.

The company leads publicly listed companies in Solana treasury holdings, according to Tuesday’s update. DeFi Development Corp. ranks second with just over 2.6 million $SOL.

Forward Industries Secures $50M Credit Line

An unnamed U.S. national bank extended a $50 million credit facility to Forward Industries. Terms give the company access to the facility for two years. $SOL backing the loan will remain staked, allowing the company to continue earning rewards.

Separately, Forward Industries committed up to $50 million to USHP, a tokenized product that tracks U.S. home prices. Galaxy-Sharplink Onchain Yield Fund also anchored the product’s launch. Management plans to use income from that investment to purchase more $SOL for its treasury.

$SOL and Company Shares Approach Three-Month Lows

Solana price fell around $81 during Tuesday’s trading, hitting its weakest level in almost three months. The token later recovered to trade at around $83.40.

Shares in Forward Industries also fell to $5.25, close to a three-month low. Losses since the start of the year now exceed 28% for the company’s stock.