Solana RWA ecosystem tops $3.4B as SOL breaks above $75 resistance

Solana's real-world asset tokenization ecosystem surpassed $3.4 billion in total value as SOL rose nearly 4% to break above the $75 resistance level on July 2.

The milestone was confirmed by DefiLlama data, which showed Solana's RWA market growing as institutions bring traditional assets on-chain, including US Treasuries, private credit, and real estate products.

SOL traded near $77 at press time, up 16% from last week's low near $66, according to CoinGecko. Trading volumes rose nearly 70% in the past 24 hours, while open interest increased and funding rates turned positive, Coinglass data shows. On-chain activity is retesting yearly highs, with active addresses approaching 7 million and transactions per second trending toward 1,100 on a seven-day average — levels that suggest network usage is accelerating even as the token price remains well below its peak.

The $80 level now represents the next major resistance. A daily close above that mark could open the path toward $100, while the $73 zone — the 0.786 Fibonacci retracement level — serves as primary support. The Alpenglow consensus upgrade, expected in the third quarter, may act as a catalyst if activation nears.

RWA Growth Tests Solana's Institutional Appeal

The $3.4 billion RWA figure places Solana among the leading networks for tokenization, competing with Ethereum-based platforms such as Ondo Finance and BlackRock's BUIDL fund. Tokenized products on Solana range from short-term US Treasury bills to private credit funds and real estate tokens, according to DefiLlama. The growth comes as protocol revenue on Solana improved after three months of decline, with June generating 261,909 SOL in user fees and 76,257 SOL in protocol revenue — a reversal from the downward trend that had weighed on sentiment earlier this year.

On-Chain Divergence and Key Levels

The rally follows a bounce off the $63 support in June, where SOL hit its measured target after breaking down from an ascending channel. The daily RSI has climbed toward 60, indicating building momentum. However, the weekly chart shows SOL remains about 74% below its all-time high of $293, and weekly volume continues to contract — a pattern that can signal accumulation but also leaves the market vulnerable to sudden moves.

Last week, nearly $2 million flowed out of Solana-linked ETFs, reflecting broader market caution as macroeconomic uncertainty persists. A break below $73 would expose the $63 demand zone, while failure to hold $70 could set up a triple-top pattern with a downside target near $50. On the upside, a sustained move above $80 would shift the structure bullish and open the path toward $100 and eventually $120, levels not seen since early 2025.

This article is for informational purposes only and does not constitute investment advice.