So after three years, we see $SOL return below $70. For the first time since 2023, SOL has returned to the $6x range, while Forward Industries just deposited 455,784 SOL (equivalent to ~$31.87 million) into CB Prime. - Last year, Forward Industries (NASDAQ: FWDI)—a company backed by Galaxy Digital, Multicoin Capital, and Jump Crypto—spent ~$1.59 billion to acquire 6.83 million $SOL at an average price of $232.08. - Currently, their holdings are worth only ~$458.6 million, representing an unrealized loss of nearly $1.13 billion. - Forward Industries positions itself as the “world’s largest Solana treasury company,” focusing on accumulating SOL, staking, generating yield via DeFi, and running validators to increase SOL-per-share for shareholders—similar to the strategy employed by Bitcoin companies and Bitmine with ETH. => Despite heavy paper losses, they continue their long-term strategy, having accumulated over 6.97 million SOL by early 2026. => Previously, they made even larger deposits—for example, ~1.4 million SOL (~$200 million) in November 2025, or 1.88 million SOL (~$260 million). It’s likely they staked, lent, or rebalanced rather than sold. - Currently, the on-chain realized price of SOL is ~$120, while the market price is only $65. - So, what do you think—has SOL dipped enough? Could we see SOL drop to 4x or even 3x?