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Forward Industries Moves $32M in SOL to Coinbase Prime Amid Market Selloff

Capital Flow On-Chain Data

2026-06-05 17:12:06

SOL-5.43%

According to Lookonchain, Solana treasury firm Forward Industries recently transferred approximately 455,784 SOL (worth around $32 million at press time) to Coinbase Prime, marking its first major wallet activity in over a month. While the company has not disclosed liquidation plans, transfers to exchange-linked accounts are typically viewed as a precursor to selling. The move coincides with rising sell-side pressure on Solana; exchange netflow has reached roughly $16.10 million with $536.34 million in total SOL sold across centralized exchanges. At press time, SOL was down 8.31% and trading with a year-to-date loss of 48.78%. Forward Industries' SOL treasury position is currently sitting on an unrealized loss of approximately $1.13 billion, according to Lookonchain data.

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