Solana Hits 30-Day High as Meme-Coin Rally, Tokenized Assets Lift Network Activity

Solana climbed to its highest level in 30 days as meme-coin trading revived and tokenized assets surged.

On July 3, Solana rose above $83 in Binance's USDT market, its highest intraday level in a month. The move contrasted with the broader altcoin market, whose total capitalization fell to its lowest since December 2023 over the same period.

The advance came as cumulative trading volume in tokenized stocks on the Solana network surpassed $10 billion. Backpack Exchange launched trading in SpaceX stock tokens, increasing the use of Solana-based decentralized finance.

The value of tokenized assets on the Solana network reached a record $3.5 billion earlier this month. Blockchain data platform RWA.xyz showed Solana had 294,274 active addresses tied to tokenized assets, ahead of Ethereum's 204,955.

The meme-coin market also rebounded. The Black Bull (ANSEM) launched via an airdrop last Sunday, prompting buying across the sector. Pump.com's native token, PUMP, rose 27% on 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 also emerged in prediction markets. The World project launched a prediction-market service integrated with the Phantom wallet and attracted $890,000 in total value locked within two days. Jupiter, a Solana-based decentralized exchange, also unveiled a beta version of its own prediction-market service on July 29.