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Forward Industries completes a $1.65 billion PIPE investment to establish a Solana reserve. Galaxy Digital, Jump Crypto and Multicoin Capital collectively raised over $300 million to support the initiative. SOL reached a seven-month high on Thursday after breaking above the $224 resistance. Solana (SOL) reached a seven-month high of $228 on Thursday after Forward Industries (FORD) announced the completion of a $1.65 billion private investment in public equity (PIPE) deal to establish a SOL treasury. Forward Industries completes $1.65 billion offering to fund Solana reserve Nasdaq-listed Forward Industries is set to establish a Solana treasury following the completion of a $1.65 billion PIPE deal, according to a Thursday statement. The offering, backed by a $300 million joint investment from Galaxy Digital, Multicoin Capital and Jump Crypto, involved support from several digital asset investment firms. Bitwise Asset Management, Borderless Capital, Coinlist Alpha, CyberFund, FalconX, Jupiter and Big Brain Holdings joined in as investors. Multicoin Capital co-founder and managing partner Kyle Samani has been named chairman of Forward Industries’ board, joined by interim CEO Michael Pruitt as a director. The company, which announced its Solana treasury strategy on Monday, plans to use net proceeds from the offering mainly to purchase SOL for its treasury and for working capital. “Forward Industries’ mission has been centered around operational and innovative excellence, and we are now extending that same principle to our capital strategy by building a balance sheet with SOL at its core,” said Pruitt. In addition to their investment, Galaxy, Jump Crypto, and Multicoin will provide support to help Forward Industries build and execute its Solana treasury strategy. On-chain records suggest Galaxy Digital may have already begun helping Forward Industries acquire SOL. Galaxy Digital withdrew 1.45 million SOL, worth $326 million, from exchanges on Thursday, according to data compiled by smart money tracker Lookonchain. The development comes amid growing interest in altcoin digital asset treasuries over the past six months. Several firms, including Sharps Technology, DeFi Development Corp and Upexi, have doubled down on their SOL treasury strategy in recent months, with combined holdings of 8.9 million SOL worth just over $2 billion, according to the Strategic Solana Reserves website. Forward Industries’ potential $1.65 billion SOL stash positions it to overtake Sharps Technology as the leading Solana corporate treasury. Meanwhile, Bitwise CIO Matt Hougan stated in a Tuesday note that the surge in corporate reserves, coupled with high anticipation for the approval of US spot Solana exchange-traded funds (ETF), could trigger an end-of-year rally for SOL. SOL reaches seven-month high, breaks $219 resistance SOL is trading at a seven-month high on Thursday after breaking above the $219 level. The Layer 1 token could stretch its rally toward $252 if it holds $219 as support. On the downside, SOL could bounce off the $206 level or the lower boundary of a rising wedge, strengthened by the 20-day Exponential Moving Average (EMA). The Relative Strength Index (RSI) is above its neutral level while the Stochastic Oscillator (Stoch) has crossed into its overbought region. This indicates a strong, dominant bullish momentum, but with potential for a short-term correction due to overbought conditions in the Stoch. $SOL

Bitget's AI-focused listings have been on 🔥! In August, tokens like AIO, $WAI, and $PUBLIC saw significant gains shortly after listing. This momentum continued into September with Q, GATA, and OPEN surging by 128.15%, 88.15%, and 21.64%, respectively. With this trend in place, I'm hyped for the upcoming Holoworld AI ($HOLO) launch on Bitget – the data suggests it could follow suit and make some impressive moves!

RT @IncomeSharks: @HanzoYasunaga @TheCryptoDaddi @Flaresystem Sounds impressive. But for me to ever believe these I want to see a public fu…

An "open currency" is not a universally defined financial term but most closely refers to the foreign exchange (forex) market, a global marketplace for buying and selling currencies, operating 24/5 to determine exchange rates through supply and demand. It can also refer to an open foreign currency position, where a financial institution has more assets than liabilities in a specific foreign currency, or the concept of a currency's exchange rate being open to fluctuation based on market forces rather than being fixed.  The Open Market (Forex Market) Definition: A decentralized, global marketplace where national currencies are exchanged. It is the largest and most liquid asset market in the world.  Operation: The market is open 24 hours a day, five days a week, facilitating currency trading for various purposes, including international trade, investment, and speculation.  Currency Pairs: Currencies are traded in pairs (e.g., EUR/USD), with an exchange rate indicating the value of one currency against another.  Price Determination: The exchange rate of a currency is determined by supply and demand in the open market. Factors influencing these fluctuations include a nation's economic strength, trade levels, public debt, geopolitical risks, and trade flows.  Participants: Historically for governments and large corporations, it's now accessible to individuals through online brokers and investment platforms.  Market Types: The forex market includes the spot market (immediate delivery), futures market (standardized contracts for future delivery), forward market (customized contracts for future delivery), and options market (right, but not obligation, to buy or sell). 

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