Solana is gaining attention as tokenized stock trading activity expands, with xStocks reporting that VIDAx generated twice the trading volume on Solana compared with traditional stock exchanges over the past 30 days. The development highlights growing activity in blockchain-based financial markets. Meanwhile, the SOL price is trading near $104 following a sharp correction. Crypto analyst BitGuru identifies $101 as a critical support level, with potential recovery targets at $112 and $120 if buyers defend the area.
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VIDAx Trading Volume Highlights Solana’s Growth
According to xStocks, VIDAx recorded twice the trading volume on Solana compared with traditional stock exchanges over the past 30 days. The company highlighted the figures as evidence of growing activity around tokenized equities and the potential for blockchain-based markets to expand financial access.
Tokenization allows traditional financial assets, including stocks, to be represented as digital tokens on a blockchain. Depending on their structure, these products can provide alternative ways to access and trade financial assets through blockchain infrastructure.
The reported comparison puts Solana in focus as projects explore blockchain-based alternatives to conventional financial markets. However, the figures relate specifically to VIDAx and do not establish that tokenized stocks across the entire Solana ecosystem have surpassed traditional exchanges.
Also Read: Solana Posts $299M App Revenue as SOL Price Outlook Draws Attention
Tokenized Equities Add to Solana’s Ecosystem Activity
The VIDAx figures highlight Solana’s expanding role in tokenized financial products. Trading activity in these assets demonstrates how blockchain networks can support applications beyond conventional cryptocurrency transfers and decentralized finance.
The rising popularity of tokenized equities will attract users interested in finance-related blockchain projects. This development will likely contribute to Solana’s presence amongst those blockchain networks that support tokenized assets.
However, the trading volume alone cannot prove that the process of adoption is ongoing and that the value of the SOL cryptocurrency will increase. Extra information regarding the capitalization of the tokenized asset market, transaction volume, and user involvement is needed.
SOL Price Faces a Critical Test at $101
The current price for SOL stands at around $104 after witnessing a huge correction, as per the analysis done by BitGuru. The $101 price point is seen as the immediate level of support that SOL must defend.
In case the bulls succeed in keeping the price above the $101 support level and buy pressure intensifies, then a move towards the $112 price point and eventually the $120 price level could be seen.
Source: BitGuru’s X Post
A break above $112 will be a way of testing the bullish momentum. An upward move above $120 will take more buying momentum. The SOL price will need to break through its resistance level before confirming this recovery.
However, a breakdown below $101 will put SOL at risk of falling to $96. This would mean that there is still selling pressure in SOL.
BitGuru Sets $112 and $120 as Upside Targets
The outlook of BitGuru revolves around the buyers’ ability to control the $101 support zone. Holding up at this support level might give way to a recovery move to $112 and $120.
But the prediction is conditional on prices holding up. If SOL fails to hold, then $96 is the next level of interest. Analyst targets need therefore to be seen as conditions and not necessarily as guarantees.
This particular analysis does not consider any of the RSI, MACD, or volume confirmations. More technical tools will be useful in determining if SOL is in for a sustainable rally or is still prone to sell-offs.
What Comes Next for SOL?
The tokenization of stocks at Solana, as well as the technical nature of SOL, are two trends worth watching. The volume of VIDAx shows the trading in equity tokens on the blockchain, while the immediate future of SOL is contingent on whether $101 can be held by buyers.
Winning defense can reinforce the case for moving up to $112 and $120. A failure, on the other hand, can put a spotlight on $96. More data on trade for VIDAx can determine the possibility that the tokenization is increasing but not necessarily affecting SOL’s price.
Also Read: Solana Leads Stablecoin Transfers as SOL Price Eyes Macro Breakout
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
