SOL Claws Back $72 But Onchain Data Warns of Weakness
By Alphacino Editorial Team ·
Quick Take
Solana recovered to $72 on tokenized stock trading tailwinds, but declining TVL and DEX volumes are flashing caution signals.
Solana's SOL token clawed back the $72 level over the weekend, buoyed in part by growing tokenized stock trading activity on its network. The recovery looked promising on the surface — but onchain data tells a more complicated story.
Despite the price bounce, total value locked (TVL) across Solana-based protocols continued to slide, and decentralized exchange volumes remain below recent highs. These are the metrics that reveal real user activity, not just speculative price action. When price rises but TVL and DEX volume fall, traders are buying the ticker — not the network.
Meanwhile, macro headwinds persist. Bitcoin is hovering below $60,000, setting a cautious tone across the market, and Solana whales have reportedly positioned $15 million in bearish bets against SOL. If those bets are right, a move back toward $40 is a scenario traders shouldn't rule out.
The $72 reclaim matters, but it needs to be backed by a genuine uptick in network activity to stick. Watch DEX volumes and TVL over the next week — those are the real signal.
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