Altcoins News

Story: FORD Stock Surges 36% on Solana Treasury Plan as SOL Leads Crypto Rally

By Evie Vavasseur

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Nasdaq-listed Forward Industries (NASDAQ: FORD) has witnessed a striking 36% jump in its stock price on September 11, following the rollout of its $1.

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Forward Industries Executes Massive SOL Purchases

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Forward Industries recently completed a $1.65 billion private placement to fund its acquisition of SOL.

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In a CNBC interview, Novogratz highlighted Solana’s blockchain capability, noting it can handle 14 billion transactions per second—surpassing the combined transaction volume of…

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FORD Stock Rallies Alongside Solana Gains

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The Solana Treasury announcement has translated into significant gains for Forward Industries.

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Solana Leads Broader Crypto Market Rally

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The broader cryptocurrency market has been experiencing a rebound, partly fueled by softer US PPI data earlier this week. Within this rally, Solana has stood out.

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SOL futures open interest has also climbed, increasing by 7.28% to $16.41 billion, reflecting growing speculation and confidence in the token’s potential.

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Beyond its market performance, Solana is achieving new milestones in the decentralized finance (DeFi) space.

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The arrival of a spot Solana ETF, expected in October pending US SEC approval, could further enhance institutional participation and liquidity.

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Forward Industries’ Solana Treasury plan has had a dual effect: driving substantial gains in FORD stock and supporting SOL’s market momentum.

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