Solana achieved a single-day tokenization record of over $200 million on June 20, accounting for nearly 99% of all tokenized stock trades across spot decentralized exchanges. According to latest data, this figure dwarfs the $20-60 million daily volume recorded throughout most of the year, with Ethereum, Base, and BNB Chain capturing only a sliver of the market. The surge signals growing demand for trading tokenized stocks on Solana, which markets itself as one of the fastest chains, with stronger tokenization flows potentially deepening liquidity and attracting more issuers. However, SOL trades at $73.86, down 45% over the past year, creating a sharp split between adoption and price performance.
According to reports from Tiger Research, Solana (SOL) is currently trading at $73.86, representing a 45% decline over the past year. Despite this significant price drop, major financial institutions including JPMorgan, BlackRock, PayPal, and Franklin Templeton are actively building infrastructure on the Solana network. As reported by Tiger Research, the firm identified Solana as the core infrastructure layer for Internet Capital Markets (ICM), where asset issuance, trading, and settlement occur on a single public blockchain. The central tension here is that the biggest names in global finance are selecting Solana as the rails for next-generation capital markets, yet the token itself is being priced like a speculative altcoin in a bear cycle.
Despite SOL's price decline to 2023 levels, Solana has emerged as the dominant force in tokenized asset trading. According to Blockworks data, tokenized equities volume has nearly tripled since the start of June, climbing roughly 187% from $40.64 million to $116.72 million and crossing the hundred-million-dollar mark for the first time. xStocks anchors this growth, controlling close to 26% of the market as the leading issuing platform. The network's dominance is particularly pronounced in individual equities, with Solana accounting for 98% of total trading volume in tokenized SpaceX [SPCX], 99% in Circle [CRCL], and the full 100% in the QQQ ETF. This surge signals that investors increasingly treat Solana as the settlement layer of choice for tokenized equity trades.
While tokenization volumes reach record highs, Solana's user base shows concerning trends. Daily active addresses have fallen steadily since late January, with the metric peaking near 5.5 million in early February according to Santiment data. The metric has since halved to about 2.55 million, suggesting the volume record reflects concentrated activity rather than broad network growth. This decline indicates fewer participants are transacting on-chain even as headline volume climbs, with the result being a sharp split between adoption and price performance. The contrast between record tokenization flows and shrinking user engagement raises questions about the sustainability of Solana's growth trajectory.
Solana's monthly RSI has dropped to 41.84, the lowest reading in the token's history, with the metric never being this weak on a monthly basis, even during the 2022 downturn. SOL is also retesting its December 2023 price zone near $74, with long-term support sitting around $50 and the $100 level marking psychological resistance. On the daily chart, SOL traded inside a rising parallel channel for most of 2026 before breaking down in early June, with the drop reaching its measured target just above $60. Price has since recovered to $73.86, up about 1% on the day and 3.6% over the week, with the next hurdle standing near $80. A clean reclaim of $80 would weaken the bearish case and open room toward $100, while continued tokenization demand could supply that catalyst.
