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ETH 
SOL Solana tokenized stock trading has attracted attention: Can on-chain activity be transformed into price momentum?
As tokenized stocks extend trading beyond traditional market closing hours, attention in the blockchain field is gradually focusing on Solana. CryptoRus pointed out that after-hours trading activity and data from more than 727,000 holders are signals worth watching. However, the more core question is whether this use scenario can be widely spread in the Solana network and ultimately reflected in the price trend of SOL.
Solana's after-hours stock market faces tokenization test
CryptoRus believes that tokenized equity provides a practical application scenario for cryptocurrencies because the market can continue to trade after Wall Street closes. Data shows that 63% of tokenized equity activity on the Solana Network occurred after the closing bell, and the number of holders has exceeded the 727,000 mark.
But this does not directly prove that there is a persistent need for SOL. As the analyst account put it: "The decision now is whether Solana's activities will translate into sustainable network growth and whether SOL's trajectory begins to reflect this change."
One way to verify this macro narrative is to look at the total locked value (TVL) on the chain, which is the total value of assets held by decentralized applications on the web. Solana's TVL rose 6.6% to $5.86 billion; in contrast, Ethereum's TVL reached $49.97 billion after rising 56%. BSC, Base, Tron and Bitcoin also recorded growth of 6.7%, 6.3%, 6.2% and 4.7% respectively, although comparable to Solana, they are still well below Ethereum's level.
The second signal comes from Ethereum itself. On Friday, the spot ETH ETF recorded a net inflow of more than $216 million, the fund's fourth consecutive week of positive inflows. According to CryptoRus analysis, this shows that institutions 'demand for cryptocurrencies is not limited to a single network, and investors should use these capital flows to test the sustainability of demand. "The continued inflow trend strengthens the argument for wider adoption, while a reversal weakens this particular signal." Analysts wrote.
The third signal is the broader tokenization market. Previous reports have shown that market capitalization of tokenized stocks such as SPY, rGOOGL and HOODb has increased significantly, while QQb achieved US$4.5 billion in decentralized exchange (DEX) trading volume in 90 days. Across the entire category, DEX transaction volume reached $15.9 billion. "This adds weight to the 'all-weather market' narrative, but does not prove that all the resulting activity can be attributed to Solana." CryptoRus pointed out.
SOL still needs to pass its own price test
According to CoinGecko data, as of press time, SOL prices were approximately US$101 and have not fluctuated much in the past 24 hours, but trading volume reached approximately US$2.4 billion, up 34.8% from the previous day.
The asset has fallen more than 3% in the past seven days, but has risen nearly 35% in the past 30 days. However, prices are still below the top of its seven-day range of $105.
CryptoRus's trading strategy recommends opening long positions only when the price is above $105.32, and treats $98.30 as a key point where upside logic fails. In current terms, SOL is somewhere between these two levels.
This makes price movements an important part of the tokenized stock story. If Solana continues to attract stock trading activity but token prices remain stagnant below its trading trigger level, then as analysts pointed out, this means that "the infrastructure story may evolve faster than token trading."
