8,727,694 $SOL and equivalent assets are held in Forward Industries' reserves, accounting for approximately 1.5% of Solana’s circulating supply. From the beginning of October to November 9, the company added 226,396 SOL through purchases and staking rewards. Forward has also secured a $50 million credit facility, using SOL as collateral while continuing to receive staking rewards. A key risk to monitor is the potential impact of a sharp decline in the price of $SOL. Although the assets continue to generate staking yields, borrowing against the held tokens may make the balance sheet more sensitive to price volatility.
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