Solana Surges 2.07% as Tokenization Market Hits $48M, ETFs Gain Traction

Solana's latest price was $151.80, up 2.067% in the last 24 hours. This price increase reflects the growing interest and adoption of the Solana blockchain, which has been making significant strides in the cryptocurrency market.

One of the most notable developments is the remarkable expansion of Solana's tokenized stock market. By early July 2025, the value of this market exceeded $48 million, showcasing a substantial growth trajectory over a brief two-week period. This rapid expansion highlights the significant adoption and interest in Solana-based tokenization solutions, positioning Solana as a leading player in the tokenization space.

Regulatory developments also indicate potential progress for Solana Exchange-Traded Funds (ETFs). The U.S. Securities and Exchange Commission has requested issuers amend and refile applications for spot Solana ETFs by the end of July. This move suggests a potentially expedited approval timeline, which could further boost the adoption and legitimacy of Solana in the financial markets.

In the realm of financial services, Solana continues to gain traction. iTrustCapital has launched Solana (SOL) staking capabilities for both Crypto IRAs and non-retirement investment accounts. This integration provides users with expanded options for earning rewards directly within their existing investment platforms, making it easier for investors to participate in the Solana ecosystem.

An analysis of the Solana ecosystem reveals substantial underlying activity and developer engagement. The network generated $271.8 million in revenue during the second quarter of 2025, reportedly exceeding Tron's revenue by 64% and more than doubling Ethereum's figure. User expenditure on decentralized application (DApp) fees reached $460 million over 30 days, incentivizing developer participation. Jito, Solana's largest DApp by total value locked (TVL), currently holds 17.92 million SOL, reflecting a 12% increase since January. Jito enhances user experience by offering maximum extractable value (MEV)-optimized staking and integrated decentralized finance services, making it a key player in the Solana ecosystem.

Solana's staking metrics remain robust, with a current staking ratio of 66.5%. This indicates that a significant portion of the circulating supply is locked, potentially reducing immediate sell-side pressure. In comparison, Ethereum reportedly maintains a staking ratio below 30%, while Cardano's ADA sits at 58%. The existing network conditions provide participants with staking incentives, making Solana an attractive option for long-term investors.

Despite the ecosystem's strength, some market observers have noted a shift towards bearish sentiment concerning SOL, particularly regarding leveraged positions. Concerns were raised about Solana potentially facing limitations in attracting major institutional users due to MEV concerns and a preference among some entities for maintaining "full validator control" and "transaction ordering guarantees" through their own layer-2 solutions. Others point to perceived competition from Ethereum's rapidly expanding layer-2 ecosystem. However, proponents emphasize Solana's integrated user experience and ongoing innovation in non-speculative applications like Jito, which continue to drive its growth and adoption.

Potential criticism regarding failed transactions and network concentration is countered by viewing these as opportunities for protocol optimization driven by intentional design choices rather than fundamental flaws. The $62.6 million in network fees paid in June underscores genuine activity levels, demonstrating the network's resilience and the value it provides to its users. This perspective highlights Solana's commitment to continuous improvement and its ability to adapt to the evolving needs of the cryptocurrency market.