Solana leads tokenized Treasury growth while testing key price support at $74.97

Solana has recorded significant growth in tokenized U.S. Treasury products, adding $378.2 million in tokenized T-bills over the past month—outpacing Ethereum's $272.2 million increase. The network also hosts the dominant share of tokenized equity deployment in decentralised finance, accounting for roughly 64% of the sector's $111 million total with $71.6 million deployed on Solana itself.

Despite this on-chain expansion, SOL has come under near-term pressure. The token fell 0.68% over 24 hours as trading volume declined 6.89% to $652.6 million, with momentum indicators remaining bearish. Solana is testing a recent swing low at $74.97 after failing to hold higher intraday levels, leaving immediate resistance at $75.64.

Broader market dynamics appear to be weighing on the asset. U.S. spot Bitcoin ETFs recorded outflows, including a $78.9 million withdrawal from BlackRock's IBIT between August 10 and 14. Such flows tend to dampen demand for higher-risk crypto assets, and Solana typically moves more sharply than Bitcoin when traders reduce exposure.

Technical indicators reflect caution. The relative strength index stands at 46, placing SOL near oversold territory without confirming a reversal, while the MACD histogram remains negative and lower trading volume shows limited buyer conviction. A sustained close below $74.97 could expose Solana to declines toward $73.00, while holding that level might produce consolidation between the support and $75.64 resistance. Bitcoin's ability to stabilise above $62,900 will likely influence the next directional move.