Last week, Solana accounted for 95% of the trading volume in tokenized stocks among blockchains, according to Cointelegraph citing Solana Floor. The figure reached a record $1.29 billion, surpassing the total volume for the entire previous month. The main driver was the launch of the SPCX token, linked to SpaceX's IPO.
This surge in activity comes amid weak performance for SOL. The asset remains over 75% below its all-time high of around $295, while Solana's total value locked (TVL) hovers around $5.7 billion, compared to a peak of approximately $13 billion in September 2025. In this context, traders are debating whether the coin has formed a local bottom.