Solana Captures 95% of Tokenized Stock Trading as Bottom Debate Grows

Solana captured 95% of tokenized equity trading across blockchains last week, posting a record $1.29 billion in volume. The surge came as SOL traded more than 75% below its all-time high near $295, and traders remain divided over whether the token is nearing a cycle bottom.

Onchain activity has expanded across several metrics, but a price reversal remains the central focus for market participants. The chain generated $21 million in weekly app revenue, outpacing Ethereum, Hyperliquid and Base, and produced $82.84 million in application revenue over the past month versus $67.43 million on Hyperliquid and roughly $51 million on Ethereum.

Solana Floor recorded the network's largest week for tokenized stock trading, with last week's $1.29 billion exceeding the total for the entire previous month, driven largely by the release of SpaceX’s IPO token, SPCX.

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