Forward Industries' SOL Accumulation Fuels Price Watch on $130 Level

Forward Industries' recent accumulation of Solana (SOL) tokens has sparked interest in the cryptocurrency's price potential. The company added 948,601 SOL to its treasury by September 30, bringing its total holdings to 8,501,298 tokens and increasing its exposure to approximately 1.4% of Solana's circulating supply.

Solana trades at $117.88 as of the last 24 hours, down 0.21%, but still within striking distance of the $130 level that many are eyeing as a key price threshold. Forward's SOL holdings grew by 13% quarter-over-quarter, exceeding the dilution created by additional shares and indicating a strong appetite for Solana among institutional investors.

The company raised approximately $25 million through a registered direct offering in September, which it plans to use primarily to acquire more SOL alongside working capital and other corporate purposes. This strategy gives Forward additional capacity to accumulate SOL while maintaining exposure to staking and other activities across the Solana ecosystem.