SOL reclaims $72, but onchain data flags weakening momentum

Solana found strength from tokenized stock trading on its network, but a declining TVL and DEX volumes point to fading momentum.

Key takeaways:

Solana native token SOL jumped to $72 on Friday, distancing itself from the $64 lows the prior day. Part of traders’ optimism stemmed from the stellar growth of tokenized stock trading, fueled by the AI sector. However, increasing competition in decentralized application networks could limit SOL’s short-term upside.

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