Solana's daily transfer volume for real-world assets (RWAs) blew past $1.49 billion on Thursday — more than double the prior day's tally — as a single token, preSPAX, accounted for over $1 billion of the activity. The surge comes alongside a continued slide in SOL's price, which has broken below key support levels even as network usage climbs.
preSPAX alone accounts for the bulk
The data shows preSPAX, an RWA token, dominated the transfer picture. It alone drove more than two-thirds of the $1.49 billion in RWA volume across Solana. That kind of concentration raises questions about how broad the RWA push really is — but for now, the numbers are eye-catching. The previous day's total was around $700 million, meaning Thursday's figure more than doubled in 24 hours.
SOL price drops, but trading volume explodes
The timing isn't great for SOL holders. The token's price has been sliding, breaking below support levels that had held for weeks. Yet the SOL/USDC trading pair posted over $4.9 billion in volume in a single day — more than six times the combined volume of the next nine biggest SOL markets. That's a lopsided, high-velocity market. It suggests traders are piling into the pair aggressively, even as spot prices fall.
Analyst Zensei flagged Solana as the best platform for spot trading right now, citing efficient execution on foreign assets like Hyperliquid's HYPE token. Zensei's take: the network's ability to handle high throughput without congestion gives it an edge for active traders.
What the charts say
Crypto Patel pointed out that SOL is currently trading inside the Fibonacci Retracement Zone between the 0.5 and 0.618 levels. That same zone preceded a 2,200% rally in a previous cycle. Patel's prediction: if an altcoin season materializes, SOL could make a run toward $1,000. He put the accumulation zone between $40 and $60 — a range the token recently dipped back into.
For now, the RWA volume surge doesn't appear to be lifting SOL's price. Whether that changes depends on whether the network's growing utility eventually pulls speculators back in — or if the price slide continues to outrun the fundamentals. The next few days should offer a clearer picture as the market digests Thursday's activity.
