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Solana Treasury Giant Nears $1 Billion Loss on SOL Bet

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Solana Treasury Giant Nears $1 Billion Loss on SOL Bet

Forward Industries’ CIO says the company aims to become the “Berkshire Hathaway of the Solana ecosystem,” even as its treasury approaches $1 billion in unrealized losses.

The statement comes as SOL has declined nearly 30% year-to-date, a drop that is impacting balance sheets across major Solana-focused digital asset treasury (DAT) firms.

Solana’s Price Decline Deepens Institutional Pain

Forward Industries is the largest institutional holder of Solana. The company began accumulating SOL in September 2025 after raising approximately $1.65 billion through a private investment in public equity (PIPE), backed by Galaxy Digital, Jump Crypto, and Multicoin Capital.

According to the latest data from CoinGecko, it holds over 6.9 million SOL. The firm acquired its position at an average price of around $230 per token, implying a total cost basis of roughly $1.59 billion.

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Forward Industries’ Solana Holdings. Source: CoinGecko

With the altcoin trading near $87, the company’s stake is now worth approximately $605.2 million. That represents an unrealized loss of nearly $1 billion, or roughly 62% from its average entry price.

Furthermore, FWDI shares have fallen from over $39 to roughly $5 since the company started buying SOL. According to Google Finance data, the stock price declined by 31.47% in 2026 alone.

Forward Industries Stock Price
Forward Industries Stock Price. Source: Google Finance

Despite the drawdown, the firm’s conviction remains strong. Company leadership has outlined an ambitious long-term vision that transcends short-term volatility.

“Our longer-term aspiration is to be the Berkshire Hathaway of the Solana ecosystem. We believe Solana is best positioned as the blockchain for the future of internet capital markets,” Forward Industries’ CIO Ryan Navi said.

According to CoinGecko treasury data, Forward Industries is not alone. Firms like DeFi Development Corp, Upexi, and Sharps Technology are also sitting on significant unrealized losses as Solana’s price continues to slide.

The losses extend well beyond Solana-focused firms. Bitmine’s Ethereum (ETH) holdings have produced unrealized losses exceeding $7 billion. Meanwhile, Strategy’s Bitcoin (BTC) position carries paper losses of roughly $5 billion, according to Saylortracker data.

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The broader DAT model, in which publicly listed companies hold crypto assets as their primary balance sheet instrument, is showing its vulnerabilities as a synchronized market decline compresses asset values while equity investors reprice risk.

Solana Launches “Solana Payments” Amid Ecosystem Momentum

Despite price struggles, ecosystem developments have continued. Yesterday, the team introduced Solana Payments, a new initiative to accelerate on-chain payment adoption.

According to the network, major players, including Visa, PayPal, Stripe, Western Union, and Fiserv, are running live products on the network, not just pilots. It also stated that the network has processed over 480 billion transactions and facilitates approximately $2 trillion in stablecoin transfers per quarter.

“Payments.org has everything you need to start building: Live payment simulator. Developer docs. Case studies from the biggest names in finance,” the post read.

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Thus, while ecosystem development continues and institutional narratives remain ambitious, prolonged price weakness is testing balance sheets and investor confidence alike. Forward Industries’ bet on SOL’s long-term value may yet prove correct, but the timeline and the market’s patience for it remain open questions.

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Solana Price Prediction For March 2026: Breakdown Continues?

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Solana Broke Down As February Started

Solana enters March under heavy pressure. SOL is down over 31% month on month, with February alone delivering a 17% loss. But the Solana price decline is only part of the problem. Underneath the chart, the economic engine that powered Solana through late 2025 — its memecoin ecosystem — has broken down. And the on-chain data tracking holders, exchange flows, and DEX activity all confirm the same thing: the selling is structural, not seasonal.

The question for March is no longer whether Solana can bounce. It is whether anything can stop the pattern already in motion from reaching its target.

Bearish Pattern Meets A Broken Engine

The 3-day chart reveals a confirmed head-and-shoulders pattern, with the neckline near $107 breaking around January 31. The measured move from that breakdown, roughly 44% from the neckline, places the technical target near $59.

SOL currently trades around $87, meaning the pattern is only partially fulfilled. From here, approximately 30% of additional downside remains if the move completes.

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Solana Broke Down As February Started
Solana Broke Down As February Started: TradingView

What makes this setup more convincing is that the neckline break coincided with the collapse of the very ecosystem driving Solana’s on-chain economy — its memecoin sector.

In the week ending February 2, Solana’s total DEX volume stood at $118.2 billion, with Pump.fun accounting for $61.4 billion and Meteora contributing $20.1 billion. By the week ending February 23, total volume had crashed to $44.5 billion — a 62% decline, per exclusive Dune data pulled by BeInCrypto analysts. Pump.fun dropped to $30.5 billion. Meteora collapsed 83% to just $3.4 billion.

Solana DEX Volume
Solana DEX Volume: Dune

The chart breakdown and the memecoin collapse are not separate events. The pattern started forming as confidence was already cracking. And without its primary revenue driver, Solana now faces the rest of the measured move with weakened fundamentals underneath it.

History And SOL Holders Offer No Relief

In past cycles, seasonal data would offer some hope here. March carries a median gain of 22.8% for Solana, and February’s historical average sits near positive 28.9%. But February 2026 returned -17%, and January delivered a 15% loss, as opposed to a +47% average.

Two consecutive red months already break the seasonal playbook. The “red month, green month” narrative no longer holds when the pattern has failed twice in a row — and the drivers behind those losses are structural, not cyclical.

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Solana Price History
Solana Price History: CryptoRank

The holder data reinforces this. In early February, when DEX volume was peaking at $118.2 billion, the Exchange Net Position change metric, showing netflows, was deeply negative — tokens were flowing off exchanges, a classic accumulation signal. That behavior matched the on-chain optimism at the time.

By February 26, the picture had fully inverted. Exchange net inflows surged to 1,561,859 SOL on a 30-day rolling basis — up roughly 40% from the 1,106,796 level seen just three days earlier on February 23. As the memecoin economy collapsed and DEX volumes cratered, holders possibly responded by moving tokens to exchanges for liquidation.

Exchange Flows
Exchange Flows: Glassnode

Long-term conviction holders tell the same story from the other side. The Hodler net position change metric — a measure of accumulation by longer-term wallets — peaked in late January (near the pattern breakdown) around 3.47 million SOL on a 30-day rolling basis. By February 26, it had collapsed to just 266,744 SOL — a 92% decline and the monthly low.

Holders Buying Less: Glassnode

The buyers who would typically support a recovery are stepping back, not stepping in.

ETF Flows Remain The Lone Support

Against all of this, one data point stands in contrast. Solana spot ETFs maintained positive weekly inflows throughout February, even as Bitcoin and Ethereum ETFs collectively bled. In the week ending February 20, SOL ETFs absorbed $14.31 million. By the week ending February 26, that figure had tripled to $43.13 million — the highest weekly inflow of the month.

ETFs Holding Strong: SoSo Value

Cumulative SOL ETF inflows have now surpassed $900 million since launch, with 12+ consecutive days of net inflows recorded in February.

The ETF bid is real. It suggests a floor will form at some point, and intermittent bounces should be expected. But it has not been enough. SOL dropped 17% in February despite almost uninterrupted institutional buying. The scale of on-chain selling, even on the sentimental side, currently outweighs ETF demand.

Key Solana Price Levels For March

The $80 zone has absorbed the most price action during this sell-off — multiple tests have occurred, making it the most significant near-term support. However, repeated retests tend to weaken a level, not strengthen it. A decisive break below $80 opens continuation toward $64, and then the head and shoulders target near $59.

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On the upside, strength does not return unless SOL reclaims $96, followed by $116 — the January fail-safe that now serves as the gateway to structural recovery. If $59 breaks, the next significant level on the 3-day chart sits near $41.

One catalyst could interrupt the bearish path. The Alpenglow upgrade — Solana’s most ambitious consensus overhaul targeting sub-second finality — is aiming for Q1 2026 mainnet deployment.

If details come in March, it could shift the narrative from memecoin chain to institutional-grade infrastructure.

Solana Price Analysis
Solana Price Analysis: TradingView

March will likely be defined by whether $80 holds. Above it, expect choppy consolidation with ETF-driven bounces. Below it, the measured move toward $59–64 becomes the base case. Until holder behavior reverses, DEX activity stabilizes, and Alpenglow delivers, the path of least resistance stays down.

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Comparing crypto exchange aggregators: A look at BestChange

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bestchange aggregator exchange

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

BestChange positions itself as a long-running exchange aggregator helping users compare rates, liquidity, and reliability across 670+ services in one interface.

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Summary

  • Founded in 2007, BestChange is a non-custodial exchange monitoring platform listing 670+ exchangers and 95+ cryptocurrencies, offering real-time rate comparisons across 52,000+ currency pairs.
  • The platform provides advanced tools, including multi-stage exchange routing, AML address checks, filtering systems, and cross-platform access via web, mobile apps, browser extensions, and Telegram integrations.
  • With millions of tracked rates and user reviews, BestChange emphasizes transparency and ongoing partner monitoring, though it has faced periodic regulatory restrictions and user feedback related to partner services and usability updates.

The crypto space has now become a haven for unscrupulous businesses posing as innovative exchanges. Choosing a platform to trade on in the midst of all this chaos is not an easy task. That’s where aggregators come into the picture. They offer a single interface where investors can compare the rates and features of various exchanges and make better decisions. 

Today, let’s take a look at one such platform: BestChange.

Overview

Website: https://bestchange.com/

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Sector: Crypto exchange aggregator

Supported coins: 95+ cryptocurrencies 

Listed exchangers: 670+ exchange services

Fees: No fees for the aggregator itself

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KYCverification: Not required

User support: Email support

Language support: English/Russian

Product ecosystem: Web platform, mobile applications (iOS and Android), Telegram bot, Telegram mini app, browser extensions, and AML address analyzer

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What is BestChange?

Launched in 2007, BestChange is a non-custodial exchange aggregator registered in Dubai under the brand Agretis Software Design LLC. The platform offers information from 670+ exchange services across more than 52,000 currency pairs. BestChange does not process transactions or store user funds. It instead operates as an independent information resource that connects users to third-party exchange providers.

Though it started off as desktop only, after its latest update in 2025, BestChange is now a full-fledged ecosystem designed to enable exchange rate comparisons on any device, at any time. 

With nearly two decades in the market, BestChange operates as an infrastructure solution within the crypto exchange ecosystem combining long-term reputation with up-to-date tools tailored to today’s typical crypto user behaviors.

bestchange aggregator exchange

Features

  1. BestChange offers a real-time comparison of core exchange variables, including rates, fees, limits, reserves, etc., so users can instantly compare rates instead of spending hours going back and forth between various websites. This functionality helps maintain market transparency. 
  2. Having tracked over 1,126,483 exchange rates across 52,070 currency pairs from 670 listed exchanges, BestChange has built a strong reputation as a reliable and transparent crypto exchange monitoring platform. 
  3. BestChange has also collected over 2,692,722 user reviews and 1,338,312 referrals in its 18 years of continuous operation.This extensive and publicly visible feedback base strengthens transparency, allowing users to evaluate exchange services based on real community experiences rather than marketing claims. At the same time, it enables the platform to continuously monitor partner reliability and maintain high service standards. 
  4. BestChange conducts ongoing monitoring of listed exchanges’ activity. The team actively identifies and addresses negative patterns such as review manipulation, misleading rate practices, or violations of platform rules, applying corrective measures when necessary. 
  5. Beyond maintaining compliance with the rules for listed exchanges, BestChange places strong emphasis on the accuracy of exchange rates and the integrity of displayed data. Continuous independent monitoring across hundreds of currency pairs ensures that rates reflect real market conditions, helping users access genuine, market-based offers rather than artificially inflated or misleading quotes.
  6. The platform also offers sorting, filtering, and alert systems designed to reduce information asymmetry. These advanced systems help users to make faster, better-informed decisions without the need for constant manual monitoring.
  7. BestChange also has a multistage exchange tool that helps identify viable liquidity paths when direct exchange pairs are inefficient or unavailable, which means users can automatically route their transaction through two exchanges to secure a better rate or complete a swap that wouldn’t be possible in a single step.
  8. In addition to the above-mentioned features, BestChange has an AML check tool, which aggregates data from multiple compliance providers to assess the risks related to crypto wallet addresses before a transaction. This allows users to spot high-risk funds in advance, avoid scams, account freezes, and compliance issues, and make informed decisions without exposing sensitive personal data.
  9. On a greater scale, BestChange is an ecosystem that employs cross-platform access via web, mobile apps, browser extensions, and messaging interfaces. This way, market data remains available to all users regardless of device, location, or constraints.
  10. The BestChange mobile app is available on App Store, Google Play, and Huawei AppGallery, with distribution across 175+ countries. This multi-format approach allows users to access exchange data, comparisons, and tools in a way they prefer without being confined to a single interface.

Pros and cons

BestChange has a whole list of advantages, from a multi-stage exchange to cross-platform access, but that does not mean the platform is without its limitations. 

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Following the launch of its new products, BestChange received some user feedback regarding minor bugs and usability issues. This is a fairly common occurrence during major updates and rebranding phases. The team acknowledged the feedback promptly and addressed the concerns through continuous iterative improvements. 

BestChange has also faced several temporary restrictions by Roskomnadzor in Russia. But these restrictions were mostly driven by shifts in Russia’s crypto regulation, rather than it being about BestChange’s operations itself. Currently, the BestChange team is in full compliance with all of Russia’s formal demands, and there are no more access concerns. 

At one point, users also raised concerns about BestChange listing exchange services with questionable reputations or scam-related behavior. However, BestChange strengthened its screening shortly after, making sure these issues were completely eradicated.

Public review

With a 4.1 rating on TrustPilot, 4.6 on MyWot, and 4.5 on TenereTeam, BestChange appears to be leading in terms of public interest. One user on the platform commented, “BestChange.com is an excellent resource for finding the best cryptocurrency and e-currency exchange rates. The platform is easy to navigate, updated in real time, and helps me choose the most reliable exchangers quickly. Highly recommended for anyone looking to save time and money when exchanging digital assets.”

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Still, the aggregator has received some criticism. One such reviewer highlighted that the cancellation charges were high, while another complained about the slow and often unresponsive customer service. However, most of the negative reviews seem to be about the individual exchange partners on the platform and not BestChange itself. 

Conclusion

Crypto exchange aggregators have made the exchange game easier than it ever was. Instead of choosing a single platform and accepting its rate, users can now compare offers and features from over hundreds of different platforms in a single interface. If traders were to do this comparison manually, that would take them hours, if not days. With aggregators like BestChange, traders can now complete this tedious task in minutes. The result is more time on their hands to make better decisions.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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South Korea Tax Office Leaks Seed Phrase in Press Release

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South Korea Tax Office Leaks Seed Phrase in Press Release

South Korea’s National Tax Service (NTS) accidentally exposed a crypto wallet seed phrase in an official press release on Thursday, leading to a loss of 4 million PRTG  (Pre‑Retogeum) tokens worth about $4.8 million from the address, according to local media reports.

According to multiple Korean media reports on local sites Naver, Chosun and others, the press release related to the National Tax Service’s enforcement campaign against tax delinquents and seizures that the authorities had carried out. The release reportedly included an image of a Ledger cold wallet and a sheet of paper showing the wallet’s full mnemonic phrase without any blur or masking.

South Korea’s National Tax Service reveals seed phrase. Source: Naver

Blockchain researchers later identified an Ether (ETH) address linked to the leaked phrase that briefly held the 4 million PRTG tokens before the entire balance was transferred out. 

Onchain data for that address shows three inbound transfers totaling 4 million PRTG, followed by a single outbound transfer sending exactly 4 million PRTG to another wallet, consistent with those reports. 

Related: 3 Solana platforms to shutter following devastating $40M hack

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Associate professor Jaewoo Cho of Hansung University’s Blockchain Research Center, who analyzed the flows, noted on X on Friday, “We have confirmed that 4 million PRTG tokens, worth approximately $4.8 million, were stolen from the mnemonic that was leaked (disclosed) through a press release from the National Tax Service.”

He added that, “fortunately, the other exposed mnemonics do not seem likely to cause any major issues,” and argued that because the stolen tokens were difficult to cash out, “the actual damage is at a negligible level.”

He said he hoped the episode would be a “blessing in disguise” that pushed Korean public bodies to build proper virtual asset custody systems. 

Crypto custody failures test Korean authorities

The incident comes as South Korean authorities face another crypto custody scandal. In a separate case, police discovered in February 2026 that 22 Bitcoin (BTC) seized in a 2021 hacking investigation had vanished from a cold wallet stored in a Gangnam police vault.

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Two suspects were arrested on Thursday after investigators found that the coins had been moved using a mnemonic phrase that the police had never controlled. 

Separately, regulators are under pressure over Bithumb’s recent 620,000 BTC fat finger promotion error, where the exchange briefly credited users with about $43 billion in non‑existent Bitcoin, and the Financial Services Commission extended its probe after criticism that it failed to spot serious systems flaws earlier.