Forward Industries Raises $25M For Solana Treasury
Solana (SOL)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Solana treasury company Forward Industries (NASDAQ: FWDI) has closed a $25 million registered direct offering to fund further purchases of SOL. The Austin, Texas-based firm sold 3,125,000 shares of common stock at $8.00 apiece to an institutional investor. This transaction was announced on September 24.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 28 September 2026. Not the outlet's figures.
Solana is currently trading at $121.99 with a 24-hour buy ratio of 51.9%, indicating a slight majority of buyers over the full day. However, the 1-hour buy ratio has risen to 54.8%, suggesting that buying pressure is building in the short term compared to the 4-hour ratio of 47.9%. The 1-hour volume delta is positive at +$864,093, showing immediate net inflows, while the 4-hour delta is negative at -$2,395,225, indicating net outflows over that longer window. The 24-hour volume delta stands at +$11,831,123, confirming that net buying has dominated the day's activity. The cumulative volume delta (CVD) for the 24-hour close is +$8,938,815, reflecting sustained accumulation.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.3%, and today's reading is 0.5 points higher than that average. This marks a day of net buying within a week that saw 4 out of 7 days of net buying activity. The 24-hour spot volume of $318,882,945 is 0.86 times the weekly average, indicating lower-than-average trading activity. Despite the volume dip, the price has increased by 9.7% over the 8-day period. The total volume delta for the week is +$92,442,229, showing that buying has been the dominant force over the longer timeframe.