Solana Price Holds Steady Amid Record Revenue and Tokenized-Equity Growth
Solana's price has been steadily increasing, reaching $101.45 at the time of writing and holding above its support shelf near $99 to $100. This is a significant milestone for the cryptocurrency, considering it broke out from the low $70s to a high above $109 in early September.
The Relative Strength Index (RSI) divergence indicator has flagged a bearish signal, indicating that upward momentum may be fading despite the price continuing to climb. However, RSI still sits at 56.01, which is neutral rather than overbought, giving room for the setup to resolve either way.
The strong on-chain fundamentals of Solana are evident in its record-breaking app revenue and tokenized-equity growth. The network saw a daily app revenue of $7.9 million on September 11, led by Stonkfun at $2.48 million and Pump at $1.10 million.
Solana's tokenized-equity trading volume has also surpassed that of Nasdaq and NYSE combined, reaching over $100 million on a single day. This is a significant milestone for the network, highlighting its growing traction in the market.