Solana Hits 30-Day High as Meme-Coin Revival, Tokenized Assets Boost Activity
Summary
- Solana (SOL) hit a 30-day high, fueled by a revival in meme coins and a surge in tokenized assets.
- Cumulative trading volume in tokenized stocks on the Solana network topped $10 billion, while the value of tokenized assets reached a record $3.5 billion.
- Gains in meme coins The Black Bull (ANSEM) and PUMP, along with the launch of prediction-market services by World and Jupiter, drew buying interest across related sectors.
Forecast Trend Report by Period
Solana climbed to its highest level in 30 days, lifted by a revival in meme-coin trading and rapid growth in tokenized assets.
SOL rose above $83 intraday on Binance's USDT market on July 3, reaching its highest level in a month. That contrasted with the broader altcoin market, whose total capitalization fell to its lowest since December 2023 over the same period.
The move coincided with cumulative trading volume in tokenized stocks on the Solana network surpassing $10 billion. Backpack Exchange also launched trading in tokenized SpaceX shares, expanding the use of Solana-based decentralized finance.
The value of tokenized assets on Solana hit a record $3.5 billion earlier this month. Blockchain data platform RWA.xyz showed Solana had 294,274 active addresses for tokenized assets, ahead of Ethereum's 204,955.
The meme-coin market has also revived. The Black Bull, or ANSEM, was launched via an airdrop last Sunday, drawing buying interest across the sector. PUMP, the native token of meme-coin issuance platform Pump.com, rose 27% over the week and reentered the top 100 by market capitalization at $630 million. ANSEM also reached a record market capitalization of $112 million that day.
New activity is also emerging in prediction markets. The World project launched a prediction-market service integrated with the Phantom wallet and attracted $890,000 in total deposits within two days. Jupiter, the Solana-based decentralized exchange, also unveiled a beta version of its own prediction-market service on July 29.
