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SOL Solana has grown significantly in the field of tokenized treasury bonds, ahead of Ethereum
In the past 30 days, Solana has achieved significant growth in tokenized U.S. treasury bonds, with new additions reaching US$378.2 million. This increase exceeds Ethereum, which grew by $272.2 million over the same period, giving Solana a $106 million lead over Ethereum in new tokenized treasury bonds.
Internet growth cannot hide the price pressure on SOL
Although Solana's Internet activity has shown strong expansion, its native token SOL is still facing short-term selling pressure. The current price is close to $74.97, at a recent low, and has dropped 0.68% in the past 24 hours. Meanwhile, daily trading volume fell 6.89% to US$652.6 million, reflecting weakening investor engagement.
The momentum indicator also showed a signal of continued caution. The Relative Strength Index (RSI) is 46, indicating that SOL is approaching oversold territory, but a trend reversal has not yet been confirmed. The moving average convergence divergence (MACD) histogram remains negative, indicating continued bearish momentum. Low trading volume suggests limited buyer confidence at current price levels.
Market participants are watching whether prices can continue to fall below US$74.97, which may trigger further declines into the US$73.00 region. However, holding on to this support could prompt a short-term consolidation between $74.97 and $75.64.
The overall weakening of risk appetite has also affected current price dynamics. Recently, there has been an outflow of funds from U.S. spot bitcoin ETFs. For example, BlackRock's IBIT withdrew US$78.9 million from August 10 to 14, which has curbed demand for high-risk crypto assets such as SOL. During periods of market pressure, the token typically shows greater volatility than Bitcoin.
Institutional capital flows and technical aspects jointly affect prospects
Institutional investment behavior remains a key external factor. If ETF outflows slow, risk appetite may stabilize, which may support a recovery in the prices of tokens such as Solana. However, if capital outflows continue, high beta tokens may continue to be under pressure even if network fundamentals improve.
This disconnect makes Solana struggle to balance the improvement of on-chain indicators with selling pressure in the overall crypto market. Price movements will depend on changes in market volume, the defense of the US$74.97 support, and the flow or outflow of Bitcoin and ETF funds.
Solana leads the growth of tokenized treasury bonds and stocks
According to the latest data, Solana added US$378.2 million in tokenized treasury bonds, leading other blockchains; Ethereum increased US$272.2 million, and BNB Chain increased US$49.2 million. Off-chain platforms grew by US$81.7 million, and zkSync Era added US$6.1 million. That month, Superstate and Securitize became the largest providers of tokenized treasury bonds, contributing $184.2 million and $182.8 million respectively. Franklin Templeton added $86.2 million, with growth from OpenEden and JPMorgan Chase contributing the rest. These companies are known for their digital asset issuance and blockchain securitization businesses.
Among them, Securitize is a blockchain company focused on tokenizing real-world assets (especially securities) for use in the digital ecosystem. Superstate focuses on tokenizing U.S. Treasury bonds, providing government bond exposure through blockchain networks.
Solana also leads the way in deploying tokenized stocks in decentralized finance (DeFi) applications. Currently, approximately US$111 million of tokenized stocks used in DeFi is used, of which Solana accounts for US$71.6 million, with a share of 64% to 65%. Ethereum followed closely with $15 million, and BNB Chain held $13.9 million.
The specific data are as follows: Solana's tokenized treasury bonds increased by US$378.2 million, and DeFi's tokenized shares increased by US$71.6 million; Ethereum's corresponding amounts were US$272.2 million and US$15 million respectively; and BNB Chain was US$49.2 million and US$13.9 million.
DeFi users use these tokenized assets for lending, liquidity pools, and decentralized transactions rather than idle them. Spot decentralized exchange trading volume on Solana reached US$5.8 billion, indicating active growth in the ecosystem. However, if this momentum is to have a positive impact on SOL prices, continued on-chain trading and DeFi participation will be needed to offset technical weakness.
Tokenized stocks and treasury bonds highlight Solana's dominance in the on-chain leveraged finance sector, although short-term market momentum remains fragile.
