Solana Real World Assets Surpass $500 Million All-Time High
Solana's price opened September under selling pressure, dropping 3% to $198 after closing August above $200, its highest since January 2025. This decline followed the announcement that Real World Asset (RWA) projects on Solana surpassed $500 million.
- The value of RWA assets on Solana reached an all-time high of $500.10 million.
- RWA project valuations increased by 2.09%, indicating a 10% net inflow over the last month.
- The number of RWA holders rose by 5.27% to 66,732 wallets, with 92 listed RWA assets.
- Stablecoin holders grew by 3% to 11.21 million; total RWA activity value surged to $11.62 billion, up 9.19% in 30 days.
Despite strong growth in RWAs, traders opted to cash out, leading to a price drop below the psychological $200 mark. Futures trading volumes for Solana surged 29.99% to $25.86 billion, while open interest fell 4.60% to $12.20 billion. The decline in open interest reflects over $600 million in liquidations within 24 hours.
Technical indicators show SOL is above its 20-month moving average at $167.78, suggesting structural bullishness. Immediate resistance is at $232.34, with potential long-term breakout barriers near $293. A rebound above $200 could lead to testing these higher levels.
New projects like Maxi Doge (MAXIDOGE) are gaining traction amid Solana's market conditions, raising over $1.7 million in presale funds so far.