Solana price test support level, tokenized treasury bonds outperform Ethereum

Solana price tests support, tokenized treasury bonds expand

tokenized stocks enhance Solana DeFi market activity

Solana price trading around $74.97, and the network added $378.2 million in tokenized treasury bonds, a $106 million increase over Ethereum. Superstate and Securitize increased by $184.2 million and $182.8 million respectively, leading the issuance of new tokenized treasury bonds this month. Solana hosted $71.6 million of tokenized stocks deployed in DeFi, accounting for approximately 64% to 65% of the total of $111 million.

The RSI was 37.46, volume fell, the MACD histogram was negative, with US$74.97 as direct support, followed by the US$73 area.

Solana prices are testing the $74.97 support level, although the network has recorded strong growth in tokenized U.S. Treasury products. In the past 30 days, Solana has added $378.2 million in tokenized treasury bonds, surpassing Ethereum's $272.2 million increase, a gap of approximately $106 million. However, due to weakening risk appetite in the cryptocurrency market, SOL fell 0.68% in 24 hours. Trading volume fell 6.89% to $652.6 million, while momentum indicators remained bearish. This comparison distinguishes expanding on-chain activity from short-term market pressures. Solana is also leading the way in DeFi deployments of tokenized stocks, hosting $71.6 million of the $111 million balance in the space, accounting for approximately 64%.

Solana price test support, tokenized treasury bonds expansion

The decline in overall risk appetite overwhelmed the network's tokenization data. The U.S. spot Bitcoin ETF recorded divestments, with Blackstone Group's IBIT withdrawing $78.9 million between August 10 and 14. Such outflows could weaken demand for high-risk cryptocurrency assets. When traders reduce market exposure, SOL usually fluctuates faster than Bitcoin.

Solana price response reflects this sensitivity. SOL was trading near its recent swing low of $74.97 after failing to hold higher intraday levels. Immediate resistance is at $75.64, putting the asset in a narrow short-term range. Buyers have not yet generated enough volume to reverse the downtrend.

Technical indicators support the cautious stance. The Relative Strength Index was 46, which brought SOL close to oversold territory, but no reversal was confirmed. The MACD bar chart remains negative, indicating that bearish momentum has not weakened. There was no reversal signal. At the same time, trading volume was low, indicating limited confidence among buyers trying to hold on to support.

SOL/USD chart

Continued closing below US$74.97 may cause Solana prices to fall further to US$73.00. If you hold this level, you may consolidate within this range, between $74.97 and $75.64. The next step also depends on whether Bitcoin can stabilize above $62,900.

Institutional capital flows constitute external pressure points rather than Solana-specific catalysts. A slowdown in ETF divestment may help restore overall risk appetite. Continued capital outflows could put higher beta tokens under greater pressure, even as their networks report stronger activity.

This divergence puts Solana prices caught between improved tokenization data and weak trading momentum. Market participants are looking at volume, US$74.97 support and Bitcoin ETF funding flows for signals in the next direction.

Tokenized stocks enhance Solana DeFi market activity

Solana's $378.2 million growth leads the new tokenized treasury bonds among all blockchains tracked. Ethereum increased by $272.2 million, while the BNB chain increased by $49.2 million. Off-chain holdings increased by $81.7 million. ZkSync Era increased by $6.1 million, while other networks increased by less than $1 million.

This expansion provides Solana prices with a hedge on network growth to counter current technical weakness. This also shows that treasury bond issuance is expanding into multiple settlement environments. Mature platforms and publishers still account for most of the added value. [TAG

Superstate led issuer growth this month, adding $184.2 million. Securitize followed with an increase of $182.8 million, while Franklin Templeton added $86.2 million. Their combined increase amounted to $453.2 million. OpenEden contributed $39.7 million and JPMorgan added $24.2 million. Several other small issuers also reported growth, but their monthly increases were generally low.

Tokenized stocks provide another measure of performance beyond Solana's price. DeFi Apps currently holds approximately $111 million in tokenized stock, from a market with a total market value of approximately $2.3 billion to $2.4 billion. These assets can enter lending markets, liquidity pools and decentralized trading venues rather than idle.

Solana held custody of the US$71.6 million deployment equity value. Ethereum followed closely with $15 million, while BNB Chain accounted for $13.9 million. As a result, Solana's share represents approximately 64% to 65% of the DeFi balance tracked.

Spot decentralized exchange trading volume on Solana reached US$5.8 billion. Future Solana price responses may depend on whether the issuance generates continued demand for spot trading, lending and collateral. The growing DeFi balance will provide evidence that tokenized treasury bonds and stocks were actually used outside of the initial offering.