Forward don launch $1.58B Solana Treasury, don stake 6.82M SOL
Forward Industries don launch Solana Treasury wit initial buy of 6.82 million SOL, wey value reach $1.58 billion at average price of $232 per token. The purchase na fund through $1.65 billion PIPE round wey Galaxy Digital, Jump Crypto and Multicoin Capital lead, include market buys and on-chain trades like $1 million DFlow transaction backed by SolFi. All SOL don stake now to generate yield and support Solana ecosystem. Interim CEO Michael Pruitt talk say dem run the Solana Treasury strategy within one week after dem close di PIPE. New board chair Kyle Samani from Multicoin Capital get plan to build di world’s biggest Solana Treasury and bring sustainable value to shareholders.
Bullish
Di launch of big Solana Treasury plus immediate staking dey boost network security and e show say big institutions get strong confidence. For short term, big scale SOL waka fit hold price steady as demand for buy dey increase. Staking also lock supply, reduce the tokens wey dey available and fit push price pressure up. For long term, support from big investors like Galaxy Digital, Jump Crypto, and Multicoin Capital fit improve market feeling and attract more money, wey go strengthen Solana system and use. The plan to build the biggest Solana Treasury show say dem dey committed to grow ecosystem, wey likely go support SOL value. So, the news good for SOL price movement.