NewsHK
Forward Industries, the largest Solana treasury company by assets, is moving to acquire smaller competitors in the digital asset treasury space as a slide in $SOL's price compresses the market net asset values of rival firms.
Consolidation Bid Targets a Crowded Field The company is offering to buy out competing Solana digital asset treasury, or DAT, operators at a premium to their current market valuations.
The approach comes at a moment of stress across the sector: as SOL's price has declined, the mNAVs — a key metric measuring how a firm's market capitalisation compares with the value of its underlying crypto holdings — of smaller treasury companies have fallen in tandem, weakening their standalone negotiating position.
Forward has framed the overtures as mutually beneficial, saying there is room for win-win outcomes in any deal.
Keep reading