Solana Surges 11% to $75 as bitFlyer Lists SOL, WIZE Crosses 50,000 SOL

Solana News

Forward Industries (NASDAQ: FWDI), the largest publicly listed altcoin treasury company built around Solana, confirmed that three takeover bids aimed at consolidating rival SOL holders were rebuffed. The official disclosure states that Solana Company (HSDT), the second-largest public SOL holder, rejected an all-stock offer valuing it at $1.63 per share — a 10% premium — without entering talks. Brera Holdings (SLMT) declined a similar approach the prior week, and SkyAI (SKYA) let a June 12 deadline pass with no response. Forward, which acquired roughly 7 million SOL for about $1.6 billion last year, said it was surprised by the boards refusing to negotiate.

Japanese exchange bitFlyer announced plans to list SOL, becoming the 15th domestic crypto operator to support the token. According to the exchange official announcement, SOL trading will open on its brokerage platform around 13:00 on June 24, with the first scheduled buy under its recurring-purchase service set for June 25. The addition lifts bitFlyer roster to 40 supported assets, placing Solana alongside Bitcoin, Ethereum, XRP and Avalanche on one of Japan longest-running venues. Expanding regulated access in a major Asian market broadens SOL retail footprint and adds another compliant on-ramp as institutional and corporate demand for the blockchain continues to build.

Tokyo-listed WIZE (formerly Mobcast Holdings) disclosed its fourth SOL purchase this month, pushing total holdings past 50,000 tokens. The company investor-relations statement confirmed buys on June 12 and 15 worth roughly ¥117 million combined, lifting its stake to 50,812 SOL and cumulative outlay to about ¥800 million. WIZE said it accumulated near an ¥11,088 average — below its prior ¥16,750 cost basis — judging SOL undervalued. The purchases moved the firm to roughly 12th on CoinGecko Solana treasury ranking, up from 14th, as it pursues a top-10 target. The accumulated SOL will be staked through the in-house WIZE Validator for additional rewards.

In a separate ecosystem development, the World Series of Poker — one of the largest tournament brands globally — named the Solana Foundation an official sponsor and moved to integrate crypto payments. The tie-up channels mainstream consumer exposure toward the network and signals Solana push toward high-volume, real-world payment rails beyond pure trading activity. Partnerships of this scale lend brand credibility and can seed wallet adoption among users unfamiliar with on-chain settlement. For a network long marketed on speed and low fees, consumer-facing deals reinforce the throughput narrative while diversifying demand toward recurring transactional use rather than speculative flows alone.

Corporate treasury rotation into SOL is also accelerating. Listed studio enish disclosed it had fully liquidated its Bitcoin holdings and opened discussions with SOL Planet to refine a dedicated Solana treasury strategy. The move mirrors a broader pattern among Japanese listed companies reallocating balance-sheet reserves toward staked SOL, drawn by validator yield and the token discount to its all-time high. Each conversion adds structural, longer-horizon demand that is less reactive to short-term price swings than exchange flows. The trend has turned Japan into one of the most active corporate accumulation hubs for the asset, complementing the steady buying already disclosed by WIZE and its peers.

The accumulation wave comes against a strained backdrop for digital-asset treasury firms. All six publicly traded SOL treasury vehicles are trading below net asset value, with mNAV ratios spanning roughly 0.34 to 0.76, and Forward itself sits near 0.69. Many built positions when SOL traded above $200, leaving today near-$75 price a heavy drag on book value. Executives have warned that a prolonged bear market could force some operators into costly liquidations that return only cash, leaving token contributors unable to recover assets. That pressure is precisely what is driving the consolidation attempts and treasury restructuring now rippling across the sector.

COINOTAG proprietary 42-indicator composite scoring engine rates the $79.27 resistance at 78/100, driven by the confluence of the Fibonacci 0.500 retracement and Ichimoku Senkou B, with a tighter cap at $74.75 scored 76/100 from the prior-day close and Ichimoku Kijun. On the downside, the $71.65 support carries a 68/100 reading, anchored by the 20-period SMA and Bollinger mid-band. Derivatives data shows a marginally positive 0.0013% funding rate, $1.58 billion in open interest and a crowded 2.81 long/short ratio (73.8% long), while the Fear & Greed Index sits at 23 (Extreme Fear). A reclaim of $79.27 opens the $83.79 swing high, but losing $71.65 would invalidate the rebound and expose $68.32; RSI near 48.9 and a bullish MACD keep the setup balanced despite the broader downtrend.