@elmo95

Companies holding treasury reserves in Solana have been hit with steep losses of up to 40% amid the recent crypto sell-off. Firms such as Forward Industries and DeFi Development Corp, which keep significant portions of their treasury in SOL, saw declines ranging from 42% to 68% over the past month as Solana’s token dropped roughly 40%. Forward Industries, for instance, holds 6.9 million SOL purchased at around $232 per token. The position’s value has plunged from about $1.6 billion to under $540 million. The downturn mirrors the broader weakness across the crypto market - Bitcoin has slipped below $65,000, and analysts warn that the bearish trend could persist for some time.

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