In an impressive display of market strength, Solana captured 95% of the trading volume in tokenized stocks across blockchains last week, reaching a remarkable $1.29 billion. This figure not only eclipsed the total trading volume from the entire previous month but also highlights the significant interest generated by the launch of the SPCX token, which is tied to SpaceX's upcoming IPO.
Despite this surge in trading activity, the performance of Solana's native cryptocurrency, SOL, has been lackluster. The price of SOL remains over 75% lower than its all-time high of approximately $295, with the total value locked (TVL) in the Solana network currently around $5.7 billion. This is a stark contrast to its peak of nearly $13 billion recorded in September 2025. This situation has led traders to speculate whether SOL has reached a local bottom.
