SOL reclaims $72, but onchain data flags weakening momentum

News Editor

2026-06-27 02:47:59

Solana reclaimed $72 on June 27, driven by tokenized stock trading on its network. However, onchain metrics reveal declining TVL and DEX volumes, signaling fading upward momentum. This article breaks down the key indicators and what they mean for SOL's short-term outlook.

SolanaSOLtokenized stocksTVLDEX volumeonchain datamarket analysis

Solana (SOL) reclaimed the $72 level on June 27, fueled by the growth of tokenized stock trading on its network. However, onchain data reveals a more cautious picture.

SOL reclaims $72, but onchain data flags weakening momentum 2

Weakening Onchain Metrics

Despite the price recovery, Solana's DeFi total value locked (TVL) and decentralized exchange (DEX) volumes have both declined. Falling TVL indicates reduced capital committed to smart contracts, while shrinking DEX volumes point to lower onchain activity. When both metrics weaken simultaneously, it often suggests that the uptrend may lack sustainable support.

Traders should monitor whether SOL can hold above $72 and whether TVL and DEX data begin to stabilize. If onchain indicators continue to deteriorate, the current rally may prove short-lived.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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