Solana (SOL) Network Activity Surges While Price Remains Stagnant Below $80

Key Highlights

• Network processed more than 1 billion non-vote transactions during the week concluding July 6
• Active wallet count skyrocketed from 16.8 million to 29.7 million within a two-week period
• Total tokenized assets on the platform reached $3.3 billion, gaining $1.1 billion since early May
• Token price hovers around $75 with downside risk toward $73-$74 if current support fails
• Data from analyst Ali Charts shows approximately 8.4 million fresh wallet addresses created weekly on average

The Solana blockchain is achieving milestone after milestone in network usage, yet the native token’s market value isn’t following suit. This disconnect between platform metrics and price action represents the primary puzzle facing SOL investors today.

Solana (SOL) Price

During the seven-day span ending July 6, the Solana network processed over 1 billion non-vote transactions—marking an unprecedented achievement. Meanwhile, the count of weekly active wallet addresses exploded from 16.8 million to 29.7 million across just 14 days.

Crypto analyst Ali Charts highlighted on X that Solana “continues to see strong network growth, with an average of 8.4 million new addresses joining each week.” This consistent user expansion validates what transaction metrics have been demonstrating.

The value of tokenized assets residing on Solana currently totals $3.3 billion, representing a $1.1 billion increase since May 9. The platform dominates on-chain tokenized equity trading with approximately 97% market share, hosting $318.7 million worth of tokenized stocks.

BlackRock-Backed OUSD Stablecoin Could Drive Massive Capital Inflows

A significant development looms ahead. Open USD (OUSD), a forthcoming stablecoin supported by over 140 financial institutions—including asset management giant BlackRock—is scheduled for native deployment on Solana before year’s end. The financial consortium selected Solana as its primary launch blockchain, potentially channeling billions in fresh liquidity to the ecosystem.

Yet despite this momentum, Solana’s economic model creates a fundamental gap. Network transaction fees remain exceptionally minimal, resulting in only approximately 1% of newly issued coins being burned. This structure means heightened on-chain usage alone won’t necessarily translate into substantial price appreciation for token holders unless the tokenomics framework evolves.

Technical Analysis Shows SOL Under Bearish Pressure

From a technical perspective, SOL faces downward pressure around the $75 level. The asset dropped below an ascending channel pattern following multiple rejections at a declining trendline in the $78-$79 zone.

Should buyers fail to push price back above the $78-$79 resistance area, the subsequent support level exists at $73-$74. A decisive breakdown beneath $75 could eventually expose the $60 price region.

Conversely, a sustained reclaim above $78.50 would strengthen the near-term technical structure. Successfully maintaining that level would position $95 as the following major upside objective.

SOL’s price at $75 remains substantially below valuations that would mirror the network’s exceptional activity levels. The platform’s $318.7 million in tokenized equity still lags behind Ethereum’s $648.9 million in comparable tokenized stock value.

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