Solana grabs 95% of tokenized equity as traders debate if SOL bottom is in
RWA Signal Insight
StocksSolana has achieved a significant milestone in the real-world asset sector by capturing 95% of all tokenized equity trading volume across all blockchains last week. This surge resulted in a record-breaking $1.29 billion in trading activity, largely propelled by the launch of the SpaceX IPO token, SPCX. Despite this robust onchain performance and $21 million in weekly application revenue, the network's total value locked remains at $5.7 billion, well below its $13 billion peak from September 2025. The dominance in tokenized equities highlights Solana's growing utility for institutional-grade assets, even as the native SOL token faces intense market scrutiny. Traders are currently debating whether SOL has reached a durable bottom, with price points between $45 and $60 identified as potential accumulation zones. While some analysts point to bullish technical indicators like RSI divergence, others caution that a prolonged period of sideways trading may be necessary for a full recovery. This divergence between high network utility and price volatility underscores the complex landscape currently facing major blockchain ecosystems.
Key points
- Solana recorded $1.29 billion in tokenized equity volume, capturing 95% of market activity.
- SPCX, the SpaceX IPO token, served as the primary driver for the record-breaking volume.
- Solana generated $21 million in weekly app revenue, outperforming Ethereum and Base.
- Total value locked on Solana is $5.7 billion, significantly below the $13 billion peak.
Background
Solana is a high-performance blockchain designed for decentralized applications, utilizing a unique Proof-of-History consensus mechanism to achieve fast transaction speeds and low costs. It supports a wide range of DeFi protocols and tokenized assets, allowing users to trade digital representations of real-world equities and other financial instruments onchain.