Tokenized Equity Holders Hit Record 1.9 Million as SOL Price Remains Bearish

The number of tokenized equity holders has reached a record high of 1.9 million, according to @KobeissiLetter. This represents a significant surge of 134% month-over-month and 1,360% year-to-date. Just ten months ago, the total stood at less than 100,000.

The growth in tokenized equity holders is attributed to several factors, including record IPO activity from companies such as SpaceX, OpenAI, and Anthropic. Additionally, rising demand for 24/7 trading has contributed to the increase. Jupiter, Solana's largest onchain platform, has accounted for much of the growth, with 61% of its volume now executed outside traditional hours.

The SOL price action remains bearish, with the price trading below the EMA50 at $100.52 and locked in a bearish structure above the longer-term EMA200 at $88.99. The MACD death cross continues to exert downside pressure, while the RSI remains below 50, indicating further room for a potential retracement.