Solana's Tokenized Gold Surge Fails to Translate into Price Strength

Solana has emerged as one of the fastest-growing blockchains in the tokenized gold segment, outperforming other major networks like Ethereum. According to research by Birdeye Research, Solana recorded a 213.2% average quarterly growth rate in tokenized gold market capitalization, surpassing Ethereum's 96% dominance in this asset class.

The growth of Solana's tokenized gold market is being driven by the launch of new instruments and improving liquidity. In 2026, cumulative on-chain trading volume for tokenized gold on Solana reached $389.63 million, with the introduction of PAXG through Sunrise infrastructure strengthening its competition with Ethereum.

However, despite this strong fundamental growth, Solana's price remains below key resistance levels. The asset is currently trading near $74 and holding within a short-term descending channel below the 50-day moving average.