Forward Industries Dumps $69M in SOL as Stock Plunges 40%

- Company offloads 455,784 SOL amid Solana’s price drop below $70 - 40% drop in Forward Industries’ stock intensifies scrutiny of altcoin-heavy treasuries On June 5, 2026, Cryptopolitan reported that Forward Industries offloaded 455,784 Solana (SOL) tokens to crypto exchanges after a month-long pause in sales. The move reignited debate about the risks of holding sizable altcoin reserves, and this major sell-off, along with the transfer and unstaking of an additional 500,000 SOL, came as Solana’s price fell below $70. As a result, the decline widened the company’s unrealized losses to roughly $1.3 billion based on its average acquisition price of $232.08 per SOL. The renewed liquidation drew increased skepticism over the sustainability of altcoin-centric treasury strategies, and concerns intensified as the Nasdaq-listed Forward Industries (FWDI) stock price has dropped 40% year-to-date. In addition, despite Solana’s robust on-chain activity, including $68 million in application fees generated during May, the ongoing asset sales test confidence in both the SOL token and the broader altcoin treasury model. As of 08:09 UTC on June 5, 2026, Solana (SOL) is trading at $65.76, reflecting a 4.91% decrease in 24-hour trading volume, according to CoinMarketCap. Meanwhile, Hyperliquid (HYPE) is trading at $62.30, with an 8.83% drop in 24-hour trading volume in the same period.