Solana's Decline Impacts Treasury Holdings Amid Investor Caution

Companies holding Solana (SOL) as a treasury asset are experiencing significant unrealized losses following a substantial price decline since January. According to NS3.AI, major holders such as Forward Industries have seen losses surpassing $700 million. Despite these setbacks, Forward Industries remains optimistic about Solana's future, citing an aggressive upgrade roadmap planned for 2026 and record-high staking ratios that bolster network security. Market activity indicates a pause in SOL accumulation by digital asset treasuries and ETF outflows, reflecting cautious investor sentiment. There is potential downside risk if support levels fall below $120, which could further impact investor confidence.