The Solana Price Move Nobody Believed Would Happen Is Here

The broader crypto market is still crashing. Bitcoin is below $60,000 for the first time in nearly two years. Ethereum is down over 70% from its peak. Altcoins are bleeding across the board.

But Solana price is moving in the opposite direction. SOL price actually pumped 7% in the last 24 hours and is now trading above $70. The token bounced from its June low near $68 and climbed into the mid-$70 range, where buyers are now trying to push through a resistance zone that has capped recent rallies.

What is going on here? Let us dig into what is driving Solana’s strength.

• Ignas: Solana Could Take Over Ethereum’s “Ultrasound Money” Narrative
• Upexi Joins Russell Microcap Index
• Tokenized Stocks on Solana Hit $10B
• Where Could Solana Price Go From Here?

Ignas: Solana Could Take Over Ethereum’s “Ultrasound Money” Narrative

Analyst Ignas tweeted a provocative take: “Imagine the smell if SOL takes over ETH’s ultra sound money narrative 🦇🔊”

His argument is based on math. Currently, Solana base-fee burns offset just 1.2% of newly issued SOL. Only about 648 SOL per day are burned from base fees, while daily inflation is still roughly 60,000 SOL.

But Solana is pushing for two major changes.

First, reduced inflation. Solana follows a fixed disinflationary emission schedule. The network’s inflation rate was initially set at 8%, declining by 15% per year until reaching a terminal rate of 1.5%. As of May 31, 2026, SOL inflation is approximately 3.8%. SIMD 550 (prev. 411) would accelerate Solana’s path to the 1.5% terminal inflation rate.

Second, a new resource-based fee with 100% burn. Developer cavemanloverboy has proposed SIMD-547, which means an improvement to the SOL token economy through a resource consumption-based fee burning mechanism. The proposal recommends charging a base fee of 0.1 lamport per cost unit for each transaction, with the full amount burned.

Source: X/@DefiIgnas

According to Ignas’ AI calculations, this would add an additional 1,500–1,800+ SOL per day in burns at current network activity. Still inflationary, but the new fee can be raised in the future while Solana would remain the cheapest chain in town.

The mechanism becomes more meaningful as Solana scales because burn would rise with both network usage and future capacity growth.

What Solana still needs: Creating onchain demand. That is why their push for tokenized stocks is so important. Increased RWA TVL would bring arbitrage opportunities, traders, and more transactions to burn SOL. If a bull market comes back, SOL could truly go deflationary – especially if Solana follows Tron’s path and increases transaction fees dramatically.

Upexi Joins Russell Microcap Index

The second-largest corporate holder of Solana just got a major boost.

Upexi (NASDAQ: UPXI), which holds more than 2 million SOL in its treasury, will join the Russell Microcap Index effective June 29. The company said the inclusion is expected to increase its visibility among institutional investors and index funds.

Russell indexes are widely used by institutional and retail investors, with approximately $12.2 trillion in investor assets benchmarked to or invested in products based on the Russell US Indexes. Inclusion in the Russell Microcap Index could open the door for index funds and active managers to allocate to Upexi – and by extension, to its Solana treasury.

The announcement comes as Solana treasury stocks remain under pressure, with ARK Invest-backed Solmate down more than 90% from its fundraising price.

Tokenized Stocks on Solana Hit $10B

This is the bigger story. Tokenized equities on Solana hit a record daily volume of $553 million on June 24. Cumulative transfer volume for tokenized stocks on the network broke $10 billion for the first time.

Industry-wide, monthly tokenized stock volume hit $5.3 billion last month, up 44% month-over-month, with Solana capturing the largest share of that growth. Solana captured 97% of on-chain tokenized-equities trading volume in May 2026.

The network hosts 272,746 RWA holders and processed $4.31 billion in RWA transfer volume over the past 30 days. Tokenized stocks have effectively flipped meme coins on Solana, accounting for 17% of daily DEX volume versus 12%.

But the competition is coming. Coinbase launches tokenized equities in July on Base, not Solana. That 95% share compresses fast once 100 million+ Coinbase users get routed to a different chain. Solana built the market. The question is whether it keeps it.

Where Could Solana Price Go From Here?

The Solana price is facing an important test between $74 and $77 as buyers attempt to extend the recovery. The 200-period moving average is adding pressure in that zone. Short-term momentum has improved, with the 4-hour SMA 100 near $68.60 providing support and RSI climbing to around 60 – showing buyers remain in control without entering overbought territory.

Key levels to watch:

• Support: $68 (June low), then the $59-$61 zone
• Resistance: $70.75 (20-day EMA), $75.44 (50-day EMA), then $82.37 (100-day EMA)
• Major resistance: $98.33 (200-day EMA)

Bullish scenario: If buyers can clear resistance between $74 and $77, attention could shift toward $80 and the daily resistance zone around $82-$84. A successful break above the 50-day EMA at $75.44 would be the strongest technical signal SOL has produced in weeks. From there, the path to $100 opens up, especially if the tokenized stock narrative continues to build momentum.

Bearish scenario: If sellers hold the line, support around $72 and then the June low near $68 become the next levels to watch. A break below $68 opens the door to the $59-$61 support zone. In a worst-case scenario where Bitcoin continues its slide toward $54,000, SOL could test $55 for the first time since early 2026.

Our take: Solana is caught between two forces. On one hand, tokenized stocks and RWA activity are exploding – $10 billion in cumulative volume, 97% market share, 272,746 holders. On the other hand, the broader crypto market is in a bear market, and SOL is still trading well below every major moving average.

The SIMD-547 proposal and reduced inflation could make SOL more attractive to long-term holders. Upexi’s Russell Microcap inclusion could bring institutional attention. And the tokenized stock market on Solana is still growing.

But the short-term price action depends on Bitcoin. If BTC continues its slide toward $54,000, SOL will likely follow. If BTC stabilizes, SOL could lead the altcoin recovery.