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Pi Network’s Price Hits Another ATL but PI Community Looks Ahead to a New Phase

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Pi Network's Price Hits Another ATL but PI Community Looks Ahead to a New Phase


PI keeps digging new lows.

The substantial correction that began last week and culminated (for now) yesterday evening has not been kind to Pi Network’s native token.

The asset, which launched just over a year ago, doesn’t seem to have found a bottom and marked yet another all-time low.

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Recall that PI was actually trading quite promisingly during the November crash when BTC, ETH, and most larger-cap alts were suffering. It remained well above $0.20 and even challenged $0.30 at one point, but to no avail.

The following month and a half were quite sluggish, and PI failed to move alongside the market in either direction. However, its $0.20 floor gave in mid-January and has been a straight-on calamity since then.

CryptoPotato repeatedly reported on the asset’s new lows. It finally regained some traction on Saturday morning, but the market-wide crash hours later drove it south hard yet again. This time, the bears took it to its latest ATL of $0.1527 (CoinGecko data). This meant a 94.8% decline in less than a year since it launched.

Nevertheless, its community continues to be hopeful about a turnaround. Pi News, arguably the most popular news-related channel outside the official Pi Network account, outlined that “PI is not just a coin, it’s a movement.”

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They speculated about some sort of “new era” that is “about to begin,” claiming that Pi Network started on mobile, but it’s now evolving into a global digital currency.

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So far, this prediction has yet to materialize, but the Pi Network Core Team continues to introduce frequent updates to the overall ecosystem, which could be a silver lining after the latest crash.

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Crypto World

Forward Industries Funds Share Buyback With Solana-Backed Loan

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Stocks, Loans, Solana

Forward Industries, a publicly traded company with a Solana-focused treasury strategy, has launched a share repurchase program funded through a crypto-backed loan from Galaxy Digital LLC, underscoring how digital assets are increasingly being used in traditional corporate finance.

The company said Thursday it will repurchase 6,164,324 shares of its common stock from an unnamed institutional investor for approximately $27.4 million, reducing total shares outstanding to 76,977,809.

Cointelegraph’s email to Forward seeking further information on the identity of the selling institutional investor was not answered prior to publication.

Stocks, Loans, Solana
A partial list of Forward Industries’ institutional investors. Source: Fintel.io

Public filings indicate that only six institutional investors in Forward Industries hold enough shares to sell that volume back to the company. According to filings data compiled by Fintel.io, one of those holders is Galaxy Digital LP (8.68 million shares, as of Sept. 18, 2025) and another is Galaxy Group Investments LLC (8.11 million shares, as of Feb. 18, 2026.)

To fund the buyback, Forward secured a $40 million loan from Galaxy Digital LLC at an interest rate of 3.4%. The loan is collateralized by the company’s Solana (SOL) holdings, which total 7,013,536 SOL — valued at approximately $613 million at current market prices.

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The structure allows Forward to access liquidity without liquidating its crypto reserves, while continuing to generate yield through staking. The move reflects a broader trend of companies leveraging digital asset treasuries to optimize capital structure and potentially enhance shareholder returns.

The share repurchase appears to be part of Forward Industries’ November authorization to buy back up to $1 billion of its stock on an ongoing basis. At the time, the company said the program would provide financial flexibility amid heightened volatility in the crypto market.

That volatility has intensified in recent months, with Solana’s price falling below $90. The buyback may also help support Forward Industries’ stock, which is down 87% from its September peak.

Forward Industries (FWDI) stock. Source: Yahoo Finance

Related: Crypto’s 2026 investment playbook: Bitcoin, stablecoin infrastructure, tokenized assets

Crypto treasury strategies face pressure

Forward Industries began aggressively accumulating Solana last year, when crypto treasury strategies gained traction during the bull market. The company has since built the largest publicly traded SOL treasury, with at least 18 other public companies adopting similar strategies, according to industry data.

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By February, these companies collectively held more than $1.5 billion in unrealized losses tied to the broader crypto market downturn. A significant portion of those losses is attributed to Forward Industries, which is down roughly $972 million.

Forward Industries ranks as the largest public holder of Solana. Source: CoinGecko

The sector’s volatility is likely to result in broad consolidation among crypto treasury companies, Wojciech Kaszycki of crypto infrastructure company BTCS told Cointelegraph.

Many treasury companies are under pressure as declining crypto prices push their valuations below the value of the digital assets they hold, while limited cash flow makes it harder to sustain operations.

Related: Crypto Biz: A Bitcoin treasury shareholder revolt