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Largest Solana treasury moves $32M in SOL to Coinbase amid $1.13B unrealized loss, sparking sell-off concerns.

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

Forward Industries, holding the largest corporate Solana (SOL) treasury, transferred 455,784 SOL worth about $31.87 million to Coinbase Prime after a month of inactivity. The firm is currently sitting on an unrealized loss of roughly $1.13 billion, having bought 6.83 million SOL at an average price of $232 since September 2025. This move has reignited fears of a potential large sale that could pressure Solana's price, though some transfers appear to be routine operational moves. The market is closely watching whether Forward Industries will sell or just rotate custody, as any sale could impact SOL's price amid a weak market environment.

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