Solana Holds Ground Above $100 as Tokenized Trading Surges

Solana's price has been holding steady above $100 in recent days, despite some volatility in the market. One key indicator of this stability is the trading volume on the network, particularly for tokenized stock trading on Solana.

VIDAx, a tokenized equity, saw its on-chain trading volume soar to 12.6 times its traditional-market volume over the past seven days. This suggests that traders are actively choosing to use Solana's platform for their trades.

This is not an isolated incident, as other tokenized equities have also seen significant activity. Moreover, ETFs on Solana are also reporting net inflows of almost $837K in the latest session. While this may not be a huge number compared to some of the network's stronger days, it still indicates growing demand for Solana's platform.

While these developments are certainly bullish for Solana, it's essential to note that the MACD is still below its signal line, indicating that the recovery hasn't yet turned into upside. Therefore, while SOL is holding up, it's not quite there yet.