Solana Dominates Tokenized Equity Market Amidst Bullish Divergence Speculation

In a striking display of its market strength, Solana has captured a staggering 95% of all tokenized equity trading activity across blockchain platforms, generating a record $1.29 billion in trading volume in a single week. This surge, however, has sparked intense debate among traders and analysts regarding whether Solana (SOL) has truly found its floor after enduring a significant decline from its all-time high of nearly $295.

Despite trading more than 75% below its peak, Solana has emerged as a leader in the decentralized finance (DeFi) sector, generating $21 million in weekly app revenue—outpacing competitors like Ethereum and Hyperliquid. Over the past month, revenue from Solana applications totaled around $82.84 million, highlighting an impressive recovery in on-chain activity even as price stability remains uncertain.

Independent analyses reveal that last week's tokenized equity volume not only set a new record for Solana but also surpassed the total for the entire previous month. A significant driver of this activity was the release of SpaceX's IPO token, SPCX, which ignited trading enthusiasm across the network. Additionally, the total value locked (TVL) in the Solana ecosystem stands near $5.7 billion, contrasting sharply with its previous high of approximately $13 billion recorded in September 2025, illustrating fluctuating capital interest in DeFi applications.

Market sentiment regarding the future of SOL remains divided. Some traders, like Ardi, posit that the asset is nearing an attractive accumulation zone, speculating that a further decline of 80% to 85% could set the price within the $45 to $60 range. This perspective draws on historical trends observed in Bitcoin and Ethereum, suggesting that the current market cycle may be mirroring past downturns.

Conversely, crypto analyst Bluntz points to potential bullish signals, as the formation of a weekly bullish divergence with respect to the relative strength index (RSI) may forecast an upward price movement. These indicators lead some to believe that SOL could be on the verge of an upswing following a substantial market correction.

However, caution prevails for others, including trader Dyme, who emphasizes the significance of historical pricing patterns, noting that Solana previously took nearly 500 days to recover after its last major downturn. This suggests that traders should brace for an extended period of sideways trading before any sustained bullish momentum emerges.

Notably, analyst Ryan Clark highlights that SOL's price continues to hover beneath critical technical levels, including the key weekly 50 and 200-period simple moving averages. A decisive move above the $90 mark could provide more robust confirmation of positive market sentiment among Solana aficionados.

The crypto community continues to scrutinize whether demand for SOL will solidify before revisiting the contentious $45 to $60 price range. As traders align their strategies, the atmosphere remains charged with both possibility and uncertainty in this fast-evolving sector.

Source: Cointelegraph

Source: CoinTelegraph DeFi