Key Takeaways
- Forward Industries transferred approximately $260 million worth of Solana (SOL) tokens to Coinbase Prime.
- The transfer signals a significant movement of SOL to an institutional custody and trading platform.
Forward Industries, the largest Solana treasury entity backed by Galaxy Digital, Multicoin, and Jump Crypto, moved around $260 million worth of Solana tokens to Coinbase Prime today, according to Arkham Intelligence data.
The transfer represents a significant movement of SOL tokens to an institutional custody platform. Coinbase Prime provides trading and custody services specifically designed for institutional clients.
Forward Industries recently reported that its SOL stash reached 6.9 million SOL as of Nov. 15. The firm highlighted gains in SOL per share driven by capital deployment, institutional-grade validator operations, and enhanced staking.
Large SOL transfers by treasury firms like Forward Industries to institutional platforms have drawn attention as potential portfolio realignments within the Solana ecosystem. Such movements are monitored as possible stake adjustments or internal treasury maneuvers.
Source: https://cryptobriefing.com/forward-industries-solana-coinbase-prime-transfer/