Key takeaways
Why did Solana overtake Ethereum in tokenized stocks?
Solana’s higher user activity and faster, cheaper transactions pushed its tokenized stock volumes above $800M, over 60% of the market.
What’s next for Solana price?
Short-term charts show bearish pressure with a possible rebound.
Solana [SOL] just pulled off a big win in the world of tokenized stocks.
The network’s trading volume shot past $800 million, flipping Ethereum [ETH] in the process! For a space where Ethereum has long been the leader, this is huge. But can Solana keep the lead, or will the latter fight back?
Solana captures majority shares in tokenized stock volumes
Tokenized stock transfer volumes hit nearly $1.3 billion, and Solana alone accounted for more than $807 million of that figure.
This means the network processed over 60% of the total market, outpacing all other chains combined.
Source: X
Gnosis [GNO] followed with $307 million, while Ethereum trailed at just $127 million. Avalanche [AVAX], Arbitrum [ARB], and Polygon [MATIC] barely registered in comparison.
This is a big shift in market leadership, one that once belonged to Ethereum.
Pulling ahead
The on-chain data shows why Solana has managed to edge out Ethereum in tokenized stock volumes.
Source: Santiment
By late September, Solana had surpassed 2.5 million daily active addresses, significantly ahead of Ethereum’s 747,000.
Network growth also favored Solana, which added nearly 1.3 million new addresses, outpacing Ethereum’s smaller expansion.
While both blockchains maintained steady development activity, Solana’s stronger user engagement appears to be the key differentiator.
Short-term pressure
Despite Solana’s dominance in tokenized stock activity, its price action has turned bearish in the short term.
SOL dropped to $192 at press time, sliding below the mid-Bollinger Band and testing support near $193. The RSI also hovered around 35, a sign of oversold conditions after a sharp sell-off.
This could mean that traders are booking profits following Solana’s big run earlier in the month.
Source: TradingView
While the network’s fundamentals remain strong, the chart shows that price sentiment has cooled. This leaves room for a potential rebound if buying interest returns near the lower Bollinger Band.
