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SOL is back in the $60s for the first time in 3 years. For the first time since 2023, $SOL has returned to the 6x price range. At the same time, Forward Industries just deposited 455,784 SOL (~$31.87M) to CB Prime. • Last year, Forward Industries (NASDAQ: FWDI) — backed by Galaxy Digital, Multicoin Capital, and Jump Crypto — spent ~$1.59B to acquire 6.83M SOL at an average price of $232.08. • Today, those holdings are worth only ~$458.6M. • Their unrealized loss is now approaching $1.13B. • Despite that, Forward Industries continues to position itself as the world’s largest “Solana treasury company,” focused on accumulating SOL, staking, DeFi yield generation, and validator operations to increase SOL-per-share for shareholders — similar to Strategy’s BTC model and Bitmine’s ETH strategy. • They have remained committed to the long-term thesis, increasing holdings to more than 6.97M SOL by early 2026. What makes this deposit interesting: • This is not even their largest transfer. • Previous deposits included ~1.4M SOL (~$200M) in November 2025 and 1.88M SOL (~$260M) on another occasion. • The move could be related to staking, lending, or portfolio rebalancing — not necessarily a sell-off. Meanwhile, on-chain data shows: • SOL realized price: ~$120 • Current market price: ~$65 That leaves SOL trading nearly 46% below its realized price. So what do you think? Is SOL at $65 already the dip everyone was waiting for, or can we still see SOL revisit the $40s... maybe even the $30s?

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