Market Analysis: Solana Dominates the Tokenized Stock Sector — 95% of Weekly Volumes
Over the past week, the Solana blockchain has captured virtually the entire market for tokenized stocks, accounting for 95% of total trading volume across all networks. This figure reached a record high of $1.29 billion, exceeding the total volume for the entire previous month. This surge in activity was made possible by the launch of the SPCX token, linked to the upcoming initial public offering (IPO) of SpaceX.
This event marks a significant milestone in the development of the real-world asset (RWA) market on the blockchain. The tokenization of SpaceX shares—one of the most valuable private companies in the world—has attracted considerable interest from both institutional and retail investors seeking access to this asset through decentralized platforms. Solana, with its high throughput and low fees, has proven to be the most suitable infrastructure for such a volume of transactions.
Contrast with SOL's Dynamics
However, these impressive figures in the tokenized stock segment stand in stark contrast to the current state of the network's native token, SOL. The asset is still trading more than 75% below its all-time high of around $295. The total value locked (TVL) in Solana protocols remains at approximately $5.7 billion, significantly below the peak of about $13 billion recorded in September 2025.
Against this backdrop, traders and analysts are actively debating whether the coin has formed a local bottom. On one hand, increased network activity driven by new applications, such as stock tokenization, could create additional demand for SOL to pay fees and for staking. On the other hand, macroeconomic uncertainty and the lack of a strong bullish catalyst for the token itself are keeping the price in a sideways range for now.
Expert comment: Solana's success in the tokenized stock niche is not just a one-time flash, but a signal of the network's maturity for corporate and financial applications. However, for sustainable growth in SOL's price, something more than a single successful launch is needed. The market needs to see a systemic inflow of liquidity and a renewal of confidence in the long-term prospects of the blockchain itself.