The Solana network has further expanded its dominance in the tokenized stock market, capturing a remarkable 97% market share. In May, the spot market trading volume for tokenized equities issued by major players soared to $869 million, while weekly trading volume climbed to a record $1.29 billion. These figures underscore the sustained interest in trading traditional financial assets on blockchain platforms.
Solana cements its lead in tokenized stocks
Solana has solidified its position as the clear leader in the emerging market for tokenized stocks, where it now controls approximately 97% of total activity. June data confirm the continuation of this strong demand: as of June 16, tokenized stock volumes reached $188 million, rising further to $213 million by June 19.
Growth driven by SpaceX token and new platforms
A significant share of this trading activity was attributed to the SPCX token, which is linked to SpaceX. Platforms such as Backpack, Ondo Finance, xStocksFi, and PreStocks have also played a key role, offering diverse avenues for users to access tokenized shares.
Solana claimed about 97% of the tokenized equity market, with May spot trading volume reaching $869 million and weekly activity hitting $1.29 billion.
These developments highlight the growing use of blockchain technology as a gateway to traditional financial assets. They also signal increased interest in integrating such assets with decentralized finance (DeFi) applications.
According to market data: May spot volume stood at $869 million; weekly trading was reported at $1.29 billion; volume on June 16 was $188 million; June 19 saw it rise to $213 million. Meanwhile, Solana’s market share remained close to 97%.
Technical outlook for SOL price under scrutiny
Alongside the surge in tokenized equity activity, investors are closely tracking the technical outlook for SOL, Solana’s native token. An analysis shared by BATMAN notes that SOL is currently trading within a prominent symmetrical triangle formation on the four-hour chart—a pattern often preceding sharp price movements.
SOL began June trading in the $85–86 range but retreated sharply to around $61. Since then, the price has shown higher lows, while sellers have set lower highs. The 200 exponential moving average (EMA) between $73 and $74 has emerged as a key resistance zone in this setup.
Glossary: Multiparty computation allows multiple parties to process information together without exposing data at a single point, maintaining privacy. A symmetrical triangle is a technical formation that shows the price tightening in a narrowing band, often leading to a breakout in either direction.
Repeated unsuccessful attempts to break higher have limited bullish momentum for SOL. However, if buyers can push the price above the triangle’s resistance line and the 200 EMA, a new uptrend could emerge.
The analysis highlights the $73–74 range around the 200 EMA as the main resistance, with the $68–69 zone serving as a key short-term support.
On the downside, the $68–69 zone is identified as crucial support; buyers have repeatedly defended this level during recent pullbacks. A drop below it could weaken the overall technical outlook for SOL.
