FORD Jumps 36% on Solana Treasury As Rally Dominates Market

TLDR

Table of Contents

FORD stock surged 36% after executing a $1.65B Solana Treasury plan backed by Galaxy Digital.
SOL price rose 6% to $234 as daily trading volume reached $11.46B.
Over 2.15M SOL worth $486M were purchased in 24 hours by Forward Industries.
Solana’s Total Value Locked crossed $13B, marking a new all-time high.

Forward Industries (NASDAQ: FORD) saw its stock surge 36% on September 11 after announcing the execution of a $1.65 billion Solana Treasury plan. Over the past week, the stock has gained 135%, as strong buying interest follows its move into digital assets. Meanwhile, Solana (SOL) also rallied, gaining 6% in a day and 15% over the week.

Forward Industries Begins $1.65 Billion Solana Treasury Execution

Forward Industries confirmed the start of its Solana Treasury strategy earlier this week. The company completed a $1.65 billion private placement to fund its SOL token purchases. This initiative marks one of the largest crypto treasury allocations by a Nasdaq-listed company.

According to data from Arkham Intelligence, over 2.15 million SOL tokens worth around $486 million were acquired in the past 24 hours. Galaxy Digital, led by Mike Novogratz, is executing these purchases on behalf of Forward Industries. The firm’s decision to add Solana to its corporate treasury has pushed trading volume in FORD stock above $1 million daily.

Source: Arkham Intelligence

Galaxy Digital is managing the transactions and executing bulk purchases of Solana from various liquidity providers. During an interview on CNBC, Novogratz stated, “The Solana blockchain can do 14 billion transactions per second,” suggesting it can match or exceed current financial market infrastructure.

Solana Price Climbs Amid Growing Institutional Demand

The price of Solana increased by 6% to $234 over the past day, supported by a 27% rise in daily trading volume to $11.46 billion. The weekly price gain now stands at 15%. The token has outperformed most major cryptocurrencies in recent sessions.

Futures open interest in SOL also grew by 7.28% to $16.41 billion, based on data from Coinglass. This shows increasing trader activity and positioning. Crypto analyst Javon Marks mentioned that if SOL holds above $233, it could rise further. He added, “A stable close above this level could signal a breakout toward $457.

Source: Javon Marks

Institutional activity around Solana has also been rising, with several firms showing interest in adding it to their portfolios. A new Nasdaq-listed company, SOL Strategies, made its debut under the ticker STKE, signaling expanding interest in Solana-based assets.

Solana’s DeFi Growth Reaches All-Time High

Solana’s blockchain continues to expand in the decentralized finance (DeFi) space. Its Total Value Locked (TVL) has crossed $13 billion for the first time. This marks a new milestone for the network, reflecting rising user and developer activity.

The increased capital allocation comes as users seek faster, low-cost alternatives to Ethereum. Solana’s performance improvements and high throughput have contributed to this rise. Many DeFi protocols are now shifting or expanding to Solana to tap into its growing user base.

There is also growing attention around the potential launch of a spot Solana ETF. Industry sources suggest the ETF could be introduced in October, pending approval from the U.S. Securities and Exchange Commission. Market watchers believe this could increase access to Solana for institutional investors.

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