Solana (CRYPTO: SOL) has clocked $100 million in SpaceX (NASDAQ:SPCX) tokenized stock volume in 24 hours, more than all tokenized equities traded across August and September last year combined.

SpaceX Tokenized Trading Is Turning Solana Into A Derivatives Powerhouse

The SPCX trading explosion on Solana spans multiple products. Jupiter launched a SpaceX rewards campaign with gamified card packs and leaderboard competitions, with top 100 traders earning cash rewards on positions as small as $55,000. 

Frontier Traders added its own SPCX leaderboard on Solana rails. Sunrise DeFi now lets traders borrow against SpaceX positions on its order book, a product unavailable anywhere in traditional finance.

With Anthropic, OpenAI, ByteDance, Stripe, and Revolut IPOs all expected this year, analyst Paul Barron argued Tuesday that Solana is positioned to capture a growing share of after-hours tokenized equity volume that traditional markets cannot touch. 

Moreover, Coinbase’s (NASDAQ:COIN) 1:1 tokenized stock announcement this week confirms the race is live, though Barron noted Coinbase may already be behind.

Two Governance Proposals Could Cut SOL Inflation And Remove A Key Price Headwind

Two Solana governance proposals circulating now would cut the network’s inflation rate and reduce emissions, potentially bringing SOL’s burn rate back to Q4 2024 levels. 

Either proposal passing alongside current growth metrics removes a long-standing structural headwind for SOL price.

The network shows real traction despite the price weakness. Solana recorded 69,000 active AI agents on-chain, returning users are outpacing new users, and uptime has held consistently. 

Monthly RSI now trades below where it sat during the FTX collapse, a level that historically has not persisted for long.

Nine Consecutive Red Monthly Candles With Demand Zone As The Last Floor

SOL is down 2% Tuesday, clinging to the demand zone between $63 and $68 that caught the June lows. 

Meanwhile, nine consecutive red monthly candles mark the longest sustained downtrend in the network’s history. 

The descending trendline from November 2025’s $170 peak continues to reject every rally attempt with the 20 EMA at $72.26 as immediate overhead resistance.

Breaking the descending trendline and 50 EMA at $77.84 targets $84.81 then $90. Losing $68 retests the June absolute lows at $63 with open air below.

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