Forward Industries Faces Over $700 Million in Unrealized Losses as Solana's Price Plunges

Companies holding Solana (SOL) as a strategic treasury asset are facing rising losses due to SOL's negative price action in January. Forward Industries, which holds the largest SOL position, is facing over $700 million in unrealized losses, despite staking rewards increasing SOL-per-share. Other SOL Digital Asset Treasuries (DATs) are also posting heavy losses, with unrealized losses exceeding $47 million, $133 million, and $52 million for Upexi, Sharps Technology, and Galaxy Digital Holdings, respectively. Analysts warn that conditions could deteriorate further, with SOL potentially falling to $70 if it breaks below the $120 level.