SOL rallies as Solana memecoins, prediction market activity surge: Are bulls back?
SOL climbed to $83, its highest level in over 30 days, and outperformed the broader altcoin market. The rally was driven by rising tokenized trading activity on Solana, inflows of stablecoin liquidity, and renewed memecoin speculation. Solana’s tokenized assets hit a record $3.5 billion, helped by corporate credit tokens and equity index products, while the network led the sector in active addresses. Memecoins and new prediction market integrations on Phantom and Jupiter also lifted sentiment and boosted SOL-linked tokens. Still, traders appear cautious about a move to $90. SOL perpetual funding rates fell sharply from recent highs, showing reduced demand for leveraged longs. Without sustained growth in on-chain usage beyond short-lived memecoin demand, the rally may struggle to extend much further.
