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Solana Sets New Tokenization Record, But Why Is the Price Still Struggling to Break US$100?

Solana
SOLUSD
dominated nearly 99% of all tokenized shares traded on decentralized exchange (DEX) spot on June 20, recording a daily high of over US$200 million, even though the token's price has been at its lowest in recent years.

Solana leads tokenization trading while the Monthly Relative Strength Index (RSI) hits its lowest level ever, and SOL is traded at US$73.86, down 45% over the past year. This shows a sharp contrast between adoption levels and price.

Solana Dominates Tokenization, Sets New Record

Tokenized share volume on decentralized exchange spot surged to around US$220 million on June 20. Solana contributed nearly all of this total.

This figure is much higher than the daily volume of US$20 million to US$60 million recorded throughout most of this year. Ethereum, Base, and BNB Chain only hold a small share.

The increase indicates rising demand for tokenized share trading on Solana, known as one of the fastest chains. The growing flow of tokenization could boost liquidity and attract more new issuers.

Active Addresses Show a More Cautious Side

This record volume contrasts with the declining Solana user base. Daily active addresses have been decreasing since late January.

According to Santiment data, this metric peaked at nearly 5.5 million in early February but now remains around 2.55 million.

This decline suggests that the volume surge may be driven by concentrated activity rather than broad network growth. Fewer participants are transacting on the chain, even as headline volume increases. Whether SOL is truly oversold depends heavily on which signals traders trust at the moment.

Monthly RSI Reaches Lowest Level in History

On the monthly chart, Solana's RSI dropped to 41.84, the lowest in the history of this token. This metric has never been this weak on a monthly basis, even during the major decline in 2022.

SOL also retested the December 2023 price zone near US$74. The RSI at this low level indicates very weak momentum, not oversold signals as taught in textbooks.

Long-term support is around US$50, while the US$100 level remains a psychological resistance. Long-term predictions are still divided on whether this support can hold, as previous analyses have suggested.

SOL Price Prediction Depends on US$80 Retest

On the daily chart, SOL has been moving within an upward parallel channel for most of 2026 before breaking down in early June. The decline reached a target above US$60.

The price then rebounded to US$73.86, gaining about 1% in a day and up 3.6% over the past week. The next challenge is around US$80.

This US$80 zone coincides with a retest of the bearish lower boundary of the broken channel. If rejected at this zone, SOL's daily trend could turn downward again toward the US$60 support area, as previously identified in the analysis.

If SOL manages to break above and hold above US$80, bearish pressure may ease, and the price could continue toward US$100. Sustained high tokenization demand could help push it higher, but weakening on-chain activity makes investors more cautious.

Currently, SOL is caught between its highest-ever adoption levels and the weakest monthly momentum. The US$80 retest will likely determine which signal prevails.