SOL Bounced to $72 as Tokenized Stock Trading Surges

Solana native token SOL jumped to $72 on Friday, distancing itself from the $64 low a day earlier. Traders' optimism was fueled by rapid growth in tokenized stock trading and hopes for network airdrops. Bullish leverage on SOL futures pushed the annualized funding rate to its highest level in June at 10%, and the token has gained about 14% since the $64 low.

Tokenized stocks on Solana traded more than $113 million in 24 hours, per Jupiter Aggregator data, but liquidity in automated market-making pools remained thin as multiple issuers launched similar products. Many of those tokens are very new, which helps explain low holder counts.

The token-launch platform Pump.fun accounted for 30% of DApp revenue and leans heavily on memecoin activity; CoinGecko found 80% of 18.7 million tokens launched in less than 48 hours, while Dune data shows 55% of addresses lost up to $1,000. Other onchain indicators point to weakening demand.

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