Can SOL Reach $130 After Forward Industries’ 949K SOL Accumulation?

TL;DR

• Forward Industries added 948,601 SOL during fiscal Q4, taking its treasury to 8.501 million SOL and equivalents.
• The company’s SOL per fully diluted share increased 10.4% quarter-over-quarter, despite additional share issuance.
• SOL trades at $117.88, down 0.21% over the last 24 hours, leaving the $130 level within focus as institutional accumulation continues.
  

  ---

Forward Industries has expanded its Solana treasury by nearly 949,000 SOL, bringing its total holdings to 8,501,298 tokens as of September 30, 2026. The company’s latest accumulation gives it exposure to approximately 1.4% of Solana’s circulating supply, while SOL currently trades around $117.88, down 0.21% over the last 24 hours.

Solana Treasury Expansion Supports The $130 Price Watch

Forward’s SOL holdings increased from 7,552,698 at the end of June to 8,501,298 three months later, representing a 13% quarterly increase. More importantly, SOL per fully diluted share climbed from 0.0730 to 0.0806, a 10.4% gain. That metric matters because it shows that the growth in the treasury exceeded the dilution created by additional shares.

The company also raised approximately $25 million through a registered direct offering in September. Forward sold 3.125 million shares at $8 each and said the proceeds would be used primarily to acquire additional SOL, alongside working capital and other corporate purposes.

This strategy gives Forward additional capacity to accumulate SOL while maintaining exposure to staking and other activities across the Solana ecosystem. The company also reported that tokenized real-world assets on Solana grew from more than $3.3 billion in June to approximately $4.3 billion by September, adding another source of potential ecosystem demand.

Can SOL Reach $130 From Current Levels?

At $117.88, SOL needs to gain about 10.3% to reach $130. That distance keeps the level within a relatively manageable range if buying pressure strengthens and the broader crypto market remains supportive. Recent data shows SOL recovered from below $100 in mid-September and moved back above $120 before consolidating.

Forward’s accumulation does not prove that its purchases directly caused recent SOL price movements. However, the treasury expansion provides a clear example of institutional capital being deployed around Solana rather than simply trading the token. With 8.5 million SOL and equivalents, Forward is increasing its direct exposure to the network’s long-term growth.

For SOL, the $130 area now represents a meaningful price threshold. A move through that level would require sustained demand rather than one corporate purchase alone, but continued treasury accumulation, staking activity and expansion of Solana-based applications could support the broader investment case.