Solana Tokenized Stock Addresses Hit 1.5M, SOL Near $100

| coinpaper.com
Solana tokenized stock holdings reached a record 1.5 million addresses by October 26, five times the August level and up from about 1 million in September. The count tracks blockchain addresses, not verified investors, and may reflect multiple wallets per person. Growth followed tokenized stock launches by Securitize and Ondo Finance, while rewards and trading activity may also have contributed. Blockworks reported that more than 360,000 wallets received about $31 million in tokenized equities, and stock-token memecoin pairs generated $1.76 billion in volume from September 1 to October 11. These figures do not prove lasting demand. Despite the increase in Solana tokenized stocks activity, SOL traded near $100–$101, down from about $124 at the start of October. Because tokenized stocks can be bought with stablecoins such as USDC and network fees require only small amounts of SOL, greater activity does not create equivalent buying demand for SOL. Weekly outflows of $24.8 million from US Solana funds added to institutional-demand concerns.
Bearish
The address milestone is positive for Solana’s ecosystem visibility and suggests growing use of tokenized assets, but its direct effect on SOL demand appears limited. Tokenized stocks can be purchased with USDC, and transaction fees require only small amounts of SOL, so higher activity does not necessarily translate into meaningful token buying. In the short term, SOL’s decline from about $124 to near $100, together with $24.8 million in weekly outflows from US Solana funds, points to selling pressure that may outweigh the adoption headline. Traders may therefore treat the record address count as a sign of ecosystem growth rather than a near-term price catalyst. Over the longer term, sustained use of tokenized stocks could support Solana’s utility and sentiment, but the data includes reward distributions and wallet counts rather than verified users or evidence of persistent demand. A stronger bullish case for SOL would require continued organic activity and clearer signs that it is translating into demand for the token.