Solana Price Faces Resistance as 12 Tokenized US Stocks Go Live on Network

Solana (SOL) traded near $105 on October 23, as the cryptocurrency remained below resistance at $109 and $110. The token had lost ground throughout October while holding above the $100 level.

Meanwhile, Securitize confirmed that 12 tokenized U.S. stocks are available on Solana for eligible investors. The announcement comes as SOL enters the final week of October trading below its $118 monthly open.

Solana Price Remains Below Two Moving Averages

SOL reached $124 on October 2 before falling to $100 on October 18. Buyers kept the price above $103 during the week beginning October 19, but the recovery did not carry the token back toward its monthly opening level. At $105, SOL crypto remained around 11% below $118.

The 20-day moving average stood near $109, while the 50-day average was close to $110. Both levels formed nearby resistance on the daily price chart. A move from $105 to $110 would require a gain of about 4.8%.

SOL crypto also faced support near $100, the lowest price reported for October. The cryptocurrency started October 8 at $116 and finished that session around $110. Subsequent daily closes stayed below $111, leaving the token within a narrower trading range as the month progressed.

Securitize Confirms 12 Stock Tokens on Solana

Securitize said on October 23 that its Solana-based stock tokens were already available to eligible investors. The company originally announced the offering on October 8.

The initial selection covers Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, Amazon, Netflix, Circle, SpaceX, Strategy and Palantir. Each token represents a security entitlement tied to an underlying company share. Securitize says it holds one share against each token and does not lend those backing shares.

The company chose Solana to support transactions on its registered brokerage platform. Trading settles in USDC, a dollar-linked stablecoin. The arrangement places conventional share exposure within blockchain-based trading infrastructure while keeping eligibility and securities rules in place.

Investors Face Eligibility and Ownership Requirements

Securitize Stocks allows eligible participants in the United States, the European Union, and other permitted jurisdictions to access the offering. Customers must complete identity checks and meet applicable onboarding conditions before trading. Securitize Markets, an SEC-registered broker-dealer, provides the service in the United States.

Investors can use USDC to purchase tokens and hold them in supported Solana wallets. The platform advertises trading for 24 hours a day, five days a week. Jump Trading supports the launch as a market maker, helping provide liquidity for transactions.

Other trading venues remain under development. Securitize said its tokens could eventually trade on a planned New York Stock Exchange digital venue and the OKXICE tokenized securities platform.

Securitize says the structure supports applicable dividend benefits and voting rights. Direct share registration requires conversion under available arrangements.

ETF Withdrawals Accompany Weak SOL Trading

Separate fund-flow data showed that U.S. Solana exchange-traded funds recorded around $17 million in net outflows between October 19 and October 22. The funds registered positive flows on only two days during October, according to the reported figures. These withdrawals coincided with SOL trading below its shorter-term moving averages.

Solana activated its Alpenglow upgrade on October 21, targeting transaction finality near 150 milliseconds, down from 12.8 seconds. SOL still traded near $104 the following day. Securitize’s stock offering adds another use for the network without establishing a direct link to SOL’s price movement.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry substantial volatility and potential capital losses. Readers should conduct independent research before making investment decisions.