Solana is gaining traction in financial markets as Fidelity highlights its expanding role in on-chain trading and tokenized assets. The network’s growing activity strengthens its position as emerging financial infrastructure. Meanwhile, the SOL price faces technical pressure near descending channel support, with traders watching for a potential recovery or further downside.
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Solana’s U.S. Exchange Activity Reaches 15%
Solana is gaining recognition in financial markets after a new report from Fidelity Digital Assets highlighted its growing role in on-chain trading. The report, titled Solana’s Competitive Advantage in Onchain Trading, examined the network’s trading activity and expanding financial ecosystem. Its findings show a significant increase in Solana’s share of major U.S. exchange activity.
According to the report, Solana now represents approximately 15% of the trading activity across major U.S. exchanges, compared with just 0.30% in 2022. The network also briefly surpassed the New York Stock Exchange (NYSE) in weekly trade executions, highlighting its growing transaction capacity and increasing relevance in financial markets.
Source: Solana’s X Post
This development reflects the expansion of blockchain-based trading infrastructure. However, comparing Solana with traditional exchanges requires some context, as decentralized cryptocurrency transactions and regulated securities trading operate under different market structures. Nevertheless, Fidelity’s findings highlight the increasing scale of activity taking place across Solana’s ecosystem.
Also Read: Solana Records $657M in Tokenized Stock Trading as SOL Price Eyes Breakout
Tokenized Assets Drive Solana’s Growth
The report also highlighted significant growth in tokenized asset trading on Solana. Monthly trading volume in this category increased from less than $100 million to nearly $5 billion. This expansion demonstrates how blockchain networks are attracting activity beyond conventional cryptocurrency transactions.
Tokenized financial products allow traditional assets to be represented and traded on blockchain networks. These include equities, Treasury products, commodities, and other financial instruments. Their expansion could introduce additional participants to decentralized markets while creating new opportunities for blockchain-based financial services.
Solana’s infrastructure is also attracting attention because of its ability to process transactions with relatively low costs and high throughput. These characteristics could support applications requiring frequent executions. Fidelity described the network as an emerging piece of financial market infrastructure, reflecting its expanding position in on-chain trading.
SOL Price Tests Descending Channel Support
Despite these developments, Solana’s growing network activity has not necessarily translated into stronger short-term price performance. The SOL price remains under technical pressure as its daily chart approaches the lower boundary of a descending channel.
This pattern indicates that sellers have maintained control over the broader price structure. The lower boundary is now an important technical area because buyers could attempt to defend it and prevent another decline. However, confirmation of a reversal would require stronger buying activity.
The current setup leaves the SOL price facing two possible scenarios. Holding the channel’s lower boundary could encourage a recovery, while a decisive breakdown could expose the asset to additional selling pressure. Traders will therefore monitor the price reaction around this technical region.
Wheezy Insights Sees $96–$98 Recovery Potential
Crypto analyst Wheezy Insights has also highlighted the SOL price’s position near the lower boundary of its daily descending channel. The analyst suggested that a successful bounce from this region could open the way toward the $96–$98 price range.
Source: Wheezy Insights’ X Post
This target represents a potential recovery scenario rather than a confirmed breakout. SOL would first need to attract sufficient buying interest and maintain support around the channel’s lower boundary. A stronger upward reaction could improve the short-term technical outlook.
However, the bearish scenario remains relevant if sellers push the price below support. Such a breakdown could invalidate the anticipated recovery and increase downside risks. Therefore, the analyst’s outlook depends on how SOL responds to its current technical structure.
What Comes Next for SOL?
Solana’s next direction will depend on its ability to defend technical support while maintaining growth across its financial ecosystem. Traders will monitor the descending channel for signs of a potential reversal, particularly as the $96–$98 region remains an important recovery target.
Meanwhile, the expansion of tokenized assets and on-chain trading could strengthen Solana’s position in blockchain-based financial markets. Fidelity’s report provides additional evidence of this development, although sustained activity will remain important for the network’s long-term growth.
Also Read: Solana Leads Stablecoin Growth With $378.1M Inflows as SOL Price Eyes Recovery
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Usman Zafar is a News Desk writer at Tronweekly with over five years of experience in cryptocurrency and blockchain journalism. He covers Bitcoin, Ethereum, DeFi, crypto laws and regulation, market activity, Layer 2 scaling solutions, and blockchain-based innovations, focusing on fast-moving developments and official industry updates. Usman previously wrote for BTCread and follows strict verification and editing practices to ensure accurate, timely, and responsible crypto news for a global audience.
