Solana holds $75.4 million in tokenized stock DeFi, targets $116 breakout

Solana Dominates Tokenized Stock DeFi Market

According to Token Terminal, Solana currently holds $75.4 million in tokenized stock DeFi deposits, accounting for 64.5% of the market segment tracked by the analytics provider. This places Solana ahead of other leading blockchains such as Ethereum, BNB Chain, and Base in this category, indicating its growing utility in tokenized assets.

Despite this progress, SOL faces key resistance between $99 and $100. Still, on-chain activity has offered a strong signal for traders, reinforcing confidence in recent upward price moves. The $95.13 level, which aligns with the 23.6% Fibonacci retracement, now serves as a dividing line between ongoing consolidation and potential reversal.

Recent market shifts further highlight Solana’s momentum. Over the most recent 30-day period ending August 19, Solana attracted $263 million in RWA inflows, contrasting sharply with Ethereum’s $337 million in outflows over the same timeframe. This $600 million swing does not directly demonstrate investor migration, but it highlights diverging trends between the two ecosystems.

Expansion of Tokenized Assets and DeFi Activity

As tokenized stocks move beyond basic issuance into lending, liquidity, and collateral markets, their integration into DeFi is expanding. Solana’s low transaction costs and rapid settlement enable smaller positions, frequent transfers, and uninterrupted trading across its ecosystem.

Solana’s total RWA value surpassed $4 billion in August, rising 10.6% over 30 days, while Ethereum’s base held at $17.2 billion with a 1.3% increase over the same period. This strengthens Solana’s narrative, although token price appreciation depends on broader market dynamics.

Tokenized treasuries are also growing on Solana, reaching $1.2 billion after a 16.1% increase over the same period. These products are used for cash management and as collateral by institutional players, with increased liquidity potentially drawing in larger transactions.

Additionally, tokenized stocks generated $5.8 billion in spot decentralized exchange (DEX) volume in the second quarter, with Solana handling about 95% of global on-chain equity DEX activity. This concentration affirms Solana’s network competitiveness, although this activity does not guarantee direct benefits for SOL holders.

While traditional markets rely on complex brokers, a significant transformation is underway as Wall Street transitions to Web3 platforms. Investors are increasingly using services like 1stepSwap to store shares of major U.S. companies, gold, and silver directly in crypto wallets. Through tokenization of RWAs and instant price discovery, these platforms eliminate intermediaries, reshaping how assets are accessed in decentralized markets.

Solana’s protocol currently burns around 650 SOL per day, while issuing nearly 60,000 SOL daily, meaning fee destruction offsets only about 1% of new issuance. With no permanent cap on supply, rising demand for tokenized assets needs to absorb this new supply for significant price impact.

Technical Outlook: Key Levels to Watch

SOL is testing the 23.6% Fibonacci retracement at $95.13, a level described by analysts at More Crypto Online as a possible fourth-wave correction after the recent rally from the $70s. If SOL holds above this support, the short-term bullish outlook remains intact, but failure could lead to a move toward $90.69 or even $87.26, the 38.2% and 50% retracement levels respectively.

A sustained breakout above the $99 to $100 resistance zone could open the door for the next leg up, with targets of $114 to $116 in play based on technical projections. On a broader timeframe, some analysts see the potential for SOL to recover toward the $160 to $180 range, provided the price forms higher lows and reclaims pivotal resistance zones, including $100 and higher bands up to $140.

However, a decisive break below the recent correction low near $60 would invalidate bullish technical setups on both daily and weekly charts. Market participants are monitoring the $95.13 and $100 levels for short-term directional cues.

Traders continue to focus on whether SOL can preserve its key support at $95.13 and overcome resistance around $100 in the sessions ahead, with pattern setups shifting quickly as price action evolves.