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Solana (SOL) traded at $78.34 at the time of writing as the network surpassed NYSE American in weekly spot trading volume for the 13th consecutive week. The milestone points to sustained trading activity as SOL consolidates near a key technical support level. Growing tokenized asset adoption also continues to strengthen the network’s role in digital markets.
The latest data from Blockworks Analytics showed Solana processed $10.6 billion in spot trading volume during the past week, compared with $6.8 billion on NYSE American. More importantly, the lead has persisted for 13 consecutive weeks instead of appearing as a short-lived spike.
The comparison doesn’t suggest Solana has overtaken major US equity exchanges as a whole. Nasdaq and the New York Stock Exchange continue processing substantially larger trading volumes. Even so, consistently exceeding NYSE American highlights how blockchain-based markets are attracting meaningful liquidity that increasingly competes with smaller traditional trading venues.
The trend also extends beyond speculative crypto trading. Blockworks Research reported Solana handled 32% of global decentralized exchange (DEX) spot volume during the second quarter, marking the eighth straight quarter above the 30% threshold while remaining the largest decentralized trading network by market share.
Solana processed a record $5.8B in tokenized assets during Q2, signaling a structural shift beyond memecoin-driven demand.
Here's the TL;DR of the report.
—
➤ The memecoin reset• REV fell to $51M (-43% QoQ) as speculative trading cooled.
• App revenue dropped to $228M… https://t.co/EP0dwXixPM pic.twitter.com/q4Xxe6vcRT
— Mercek (@WorldOfMercek) July 21, 2026
The volume trend has unfolded alongside rapid growth in tokenized assets.
Tokenized asset trading on Solana climbed to a record $5.8 billion during the second quarter, up 114% from the previous quarter. Tokenized equities accounted for $4.8 billion, while Solana processed roughly 97% of all onchain tokenized equity trading across blockchain networks.
Large finance companies have also expanded their presence within the ecosystem. BlackRock, Ondo, Bitwise, State Street, and Galaxy all increased exposure to tokenized products on Solana during the quarter, supporting Solana’s expanding role in tokenized financial infrastructure alongside its consumer-focused ecosystem.
That structural change matters because it diversifies the network’s demand base. The diversification reduces reliance on a single source of network activity as tokenized equities, stablecoins, and institutional settlement continue expanding.
tokenized assets on Solana hit $5.77B in Q2. up 114% from Q1. sixth consecutive quarterly ATH.
that's 7x the entire second half of 2025 in a single quarter.
❯ the breakdown:
• tokenized equities: $4.8B (84% of total)
• Solana's share of all on-chain equity trading: 95-97%… pic.twitter.com/q2dZkwnhJK— ALTF4 (@0xALTF4) July 21, 2026
While network activity has strengthened, SOL’s price continues trading within a rising channel identified by crypto analyst Ali Martinez.
The lower boundary near $76 remains the first level that traders are watching. Holding above that level could allow SOL to revisit the upper boundary of the channel near $93, provided buying momentum improves.
Solana $SOL continues to consolidate within a rising channel.
With price now testing the lower boundary, this could offer a buying opportunity if support holds. A rebound from here would put the top of the channel near $93 in focus. https://t.co/Femtlawn2r pic.twitter.com/6WL00IAhWH
— Ali Charts (@alicharts) July 20, 2026
Supporting that outlook, Martinez recently highlighted that roughly 100 million SOL left exchange reserves between July 3 and July 11, reducing immediate sell-side liquidity. During the same period, the network added about 1.4 million new addresses, pointing to continued user growth.
The technical picture isn’t without obstacles.
UTXO realized price distribution data shows about 125 million SOL previously changed hands between $76 and $85, creating a significant overhead supply zone. A sustained move above $85 would absorb much of that overhead supply and strengthen the bullish technical outlook. A decline below $70, on the other hand, would invalidate the current bullish structure and expose SOL to deeper downside, according to Martinez.
Solana’s expanding share of spot trading and tokenized asset activity continues to strengthen its role within digital capital markets. Even so, the technical outlook remains dependent on buyers defending the $76 support level before attempting a sustained move above the heavily traded $76-$85 supply zone.
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