Solana treasury move 455,784 SOL go Coinbase Prime amid sell wahala
Lookonchain wey report yan tok say Forward Industries Solana treasury move 455,784 SOL go Coinbase Prime after about one month wey dem no do anything. Dem estimate say the deposit na about $31.87M and e happen as Forward reportedly dey deep loss on top their Solana holdings.
Forward start the Solana treasury plan for September 2025, dem buy 6.83M SOL for around $1.59B at average $232.08. Based on the latest valuation, those 6.83M SOL dey worth roughly $452M, meaning big unrealized loss. Traders fit see the new Coinbase Prime transfer as liquidity management or as step before dem go reduce more SOL, even though Coinbase Prime fit also dey used for custody/execution.
The article join the matter to wider corporate crypto drawdowns after the post-Q4 2025 bearish turn: Strategy (BTC treasury) dey down over $11B, and Bitmine (ETH treasury) down about $9.58B. With SOL trading near $65 and down more than 19% over the past week, any extra SOL treasury activity fit add short-term sell pressure.
Bearish
Di main signal for SOL traders na Solana treasury don shift 455,784 SOL go Coinbase Prime after dem quiet for small time. As dem dey report say Forward Industries dey under water on dia SOL cost basis, fit mean say na liquidity preparation dem dey do or na first step to reduce more SOL. Even if Coinbase Prime dey provide custody/execution too, the timing during sharp SOL drawdown (down about 19% for the week) dey increase chance say more wallet activity fit trigger selling pressure.
For short term, traders fit try front-run possible follow-on transfers, specially if more SOL land for exchange-linked addresses. For long term, the impact go depend whether Solana treasury activity balance out (meaning rebalancing/custody logistics) or e go escalate to bigger, sustained outflows (confirm say dem dey deleverage/reduce positions).