Solana reclaims $72 as tokenized stock trading lifts price, but momentum wanes
SOL rose to $72 amid activity in tokenized stocks, but falling TVL and DEX volumes suggest fading momentum.
Solana's native token SOL briefly reclaimed the $72 level, supported by growing activity in tokenized stock trading on the network. However, on-chain data points to weakening underlying momentum.
Tokenized equity offerings, which allow traditional stocks to be traded on-chain, have provided a temporary boost to Solana's ecosystem. Yet key metrics such as total value locked (TVL) and decentralized exchange (DEX) volumes have declined, according to blockchain analytics.
- Solana TVL has dropped by approximately 15% over the past week.
- Daily DEX volumes on Solana fell by nearly 20% in the same period.
- Tokenized stock trading volumes, while growing, remain a small fraction of overall network activity.
The price rally appears disconnected from the underlying usage metrics, raising questions about sustainability. Analysts suggest that the price action may be driven by short-term speculative interest rather than fundamental demand.
At the time of reporting, SOL trades near $71.50, still up from recent lows but facing resistance as on-chain signals weaken.