SOL Rises to $83 as Tokenized Stocks and Memecoins Surge
SOL jumped to a 30-day high of $83 after tokenized stock transfers on Solana topped $10 billion, aided by memecoin airdrops and new prediction markets. Bullish leverage cooled.
Solana’s native token SOL reached $83, its highest price in 30 days, after cumulative tokenized stock transfers on the network surpassed $10 billion and memecoin airdrops and new prediction markets increased on‑chain activity. Derivatives data showed a sharp decline in bullish leverage during the rally.
The price move accelerated on June 23, the date when cumulative tokenized stock transfers on Solana crossed the $10 billion mark. The Backpack wallet added trading for SpaceX shares, which coincided with higher decentralized finance activity on the chain.
Data from RWA.xyz shows total tokenized assets on Solana rose to $3.5 billion this week, up from $2.7 billion a month earlier. Growth in corporate credit tokens and tokenized stock indexes, including S&P 500 and Nasdaq‑100 products, contributed to the increase. RWA.xyz lists about 294,274 active addresses on Solana for tokenized assets, compared with 204,955 on Ethereum.
Memecoin activity contributed to network demand. The Black Bull memecoin, ANSEM, was airdropped on the Pump.fun platform and reached roughly $60 million in market capitalization within days, later extending to an all‑time high near $112 million. About 65% of ANSEM’s supply went to a single public wallet linked to a crypto influencer, and the distribution touched approximately 74,000 addresses during the first three days. Pump.fun’s platform token PUMP gained about 27% over the week and returned to the top‑100 by market capitalization at roughly $630 million.
New prediction markets launched on Solana added liquidity and user activity. A market project integrated with the Phantom wallet recorded nearly $890,000 in total value locked within two days of launch. A separate platform, Jupiter, released a beta version of its own prediction markets on June 29.
Derivatives indicators show traders reduced leveraged long positions during the rally. The annualized funding rate for SOL perpetual futures fell from near 11% when the token crossed $75 to about 3% by Friday.
The broader altcoin market remained in a downtrend and reached its lowest level since December 2023. On‑chain flows, tokenized asset volumes, memecoin distributions and early prediction‑market TVL provide measurable drivers of recent activity on Solana, while derivatives metrics reflect a pullback in leveraged bullish bets.
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