Key Highlights:
- Solana is gaining momentum as corporates are adopting the SOL treasury strategy.
- Forward recently announced a $1.65 billion deal to establish an SOL treasury, a move that would involve Galaxy Digital and Jump Crypto.
- Amid such bullish developments, crypto analyst Ali Martinez offered a bold target for the Solana price.
Solana (SOL) is under the limelight once more following a series of positive moves, such as a bold technical prediction and one of the largest treasury releases in the history of the crypto sector. Market strategist Ali Martinez made news this week, as he estimated the possibility of the SOL price soaring unprecedentedly.
Top Analyst Offers Bold Solana Price Target.
In a post on X, he pointed out the main technical level, which was $1,314.41, as part of a succession of cup and handle breakouts. The bold invitation was timed with the release of an institution-level vehicle by institutional players that was an active acquisition and deployment of Solana into various financial strategies totaling $1.65 billion.
Dogecoin $DOGE next move: break $0.29 and we could be looking at a run to $0.50. pic.twitter.com/sdqThyH6U4
— Ali (@ali_charts) September 10, 2025
Forward Industries (NASDAQ: FORD) led the effort with one of the largest privately funded investments in public equity (PIPE) ever in the crypto industry. In contrast to the traditional corporate treasury plays where tokens are held in a balance sheet as an asset, the program created by Forward is designed in such a way that it actively purchases SOL and puts the holdings to work in staking, lending, providing liquidity, and trading activities.
The deal was supported by a who’s who list of crypto finance companies. Over $300 million of commitments were in Galaxy Digital, Jump Crypto, and Multicoin Capital. Alongside the fundraiser, Multicoin co-founder Kyle Samani became the chairman of Forward, and Galaxy co-founder Chris Ferraro and Jump co-founder Saurabh Sharma were made observers. Cantor Fitzgerald was the lead placement agency, with the investment banking division of Galaxy leading the execution advice.
Galaxy emphasized the infrastructure-based transaction and not the speculative one. In a statement, the firm pointed out that it was not about passive exposure. It can be described as the creation of institutional-grade infrastructure, capital at scale, and proving that Solana has the unparalleled capability to host the entirety of financial activity, trading, and settlement, staking, lending, and more.
More About the $1.65 Billion Deal
The SEC filing made by Forward confirmed that net proceeds of the transaction will be allocated to purchase SOL first of all, and the governance restructuring, as well as the role of different investment funds and advisors, were also described. The launch was reminiscent of the Galaxy announcement, stating that by operating an operational Solana treasury, Forward is positioning itself to be leveraged by one of the fastest-growing blockchain networks, which is achieved by staking, lending, and market-making services.
Two factors may be critical to the extent to which the investment ripples across markets. First, the rate and direction of SOL accumulation – either via over-the-counter or visible exchange trading- will dictate the extent to which the buying pressure will influence real-time spot prices. Second, the allocation of the purchased tokens between staking and lending as well as liquidity provisioning, will have implications on the supply dynamics, which will impact the cost of borrowing, the funding rates of derivatives, and the depth of order books.
There has already been evidence of major buying. Lookonchain, a blockchain analytics company, claimed that Galaxy Digital made big purchases on behalf of Forward and pulled off almost 1.45 million SOL valued at more than $326 million in a few hours. Another revision showed that Galaxy had acquired an additional 706,790 SOL (nearly $160 million), bringing total acquisitions in 24 hours to over 2.15 million SOL worth $486 million.
The response in the market was fast. Solana gained momentum over other large-cap cryptocurrencies, gaining about 6% in the past day. Traders are also waiting to determine whether sustained cash inflow in the war chest at Forward can strengthen the bullish chart layout by Martinez.
