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Solana drops 3% as Forward Industries moves $32M SOL amid $1.13B unrealized loss.

Market News
05 Jun 2026
Coinpaper
View Source
Bearish
pluang ai news

Solana's price fell about 3.09% to near $68.82 after Forward Industries, the largest corporate holder of Solana, transferred 455,784 SOL worth approximately $31.87 million to Coinbase Prime. This move sparked speculation about a possible reduction in their Solana holdings, which currently show an unrealized loss of nearly $1.13 billion due to the token trading far below their average purchase price of $232.08. However, past similar transfers suggest the move may be custody-related rather than a sale. Solana's technical chart remains bearish, with key support around $66 to $70 and resistance near $135 to $150, indicating continued market weakness unless strong buying interest emerges.

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