Solana Holds Near $71 as Toss Bank Inks Remittance MOU, SOL Takes 95% of Tokenized Stocks

Solana News

South Korean internet lender Toss Bank has signed a strategic memorandum of understanding with the Solana Foundation to test blockchain-based financial infrastructure for cross-border payments and settlement. The two parties plan to run a proof-of-concept on the Solana network covering global remittance and settlement rails, while jointly examining payment models built around stablecoins and digital assets. Toss Bank's remittance product already serves 30 countries and seven major currencies, offering sub-hour transfers in euros, Singapore dollars and British pounds. Foundation president Lily Liu framed the tie-up as an effort to merge traditional banking trust with blockchain efficiency, setting what she called a new standard for global money movement.

Solana's core developers confirmed that the Alpenglow consensus upgrade cleared its main testnet milestone, recording a 95% validator participation rate during the trial run. The overhaul targets transaction finality of under 150 milliseconds, a figure that would sharply tighten settlement times on a network already known for high throughput and low fees. No mainnet deployment date has been published, but engineers describe the successful testnet pass as confirmation that the protocol is technically ready for wider rollout. Analysts view faster finality as a meaningful catalyst for high-frequency trading and payment applications, reinforcing Solana's performance roadmap alongside its growing institutional pipeline and steadily expanding developer base.

Futures markets show retail traders piling into rebound bets on leading altcoins even as large holders stay defensive. On Binance, the retail long/short account ratio for SOL stood at 2.89, with OKX at 2.31, signalling that smaller participants are treating the recent dip as a buying opportunity. Whale positioning on Binance, OKX and Bybit, by contrast, registered as extremely bearish across the board. The same split appeared in Dogecoin and the SpaceX IPO token SPCX, where one exchange showed long/short ratios approaching eight-to-one. Concentrated one-directional positioning raises the risk of sharp liquidation cascades should prices extend their decline in the days ahead.

On-chain data shows Solana captured roughly 95% of all tokenized equity trading last week, setting a record with $1.29 billion in volume — more than the entire prior month combined. The network generated $21 million in weekly application revenue, ahead of Ethereum, Hyperliquid and Base, and $82.84 million over 30 days. Yet total value locked sits near $5.7 billion, less than half its September 2025 peak of about $13 billion. With SOL trading more than 75% below its all-time high near $295, traders remain split: one analyst flags a $45-$60 accumulation zone, while others warn a prolonged bear market range could persist until $90 is reclaimed.

Trading activity intensified as SOL hovered in the low-$70s, with 24-hour volume jumping roughly 27% to about $2.46 billion. The token holds a market capitalization near $42 billion and the seventh-largest position by value, supported by more than 1,141 active trading pairs across centralized and decentralized venues. Almost all of that turnover routed through centralized exchanges rather than automated market maker pools, underscoring where liquidity currently concentrates. Despite a 16% monthly decline, ecosystem expansion has continued across DeFi, NFTs and gaming, where Solana's speed and low fees keep attracting developers. Market watchers note the volume spike could mark either a reversal trigger or a precursor to further consolidation.

Real-world asset platforms built on Solana are expanding rapidly, with the top seven venues recording roughly $230 million in May 2026 revenue. That marks more than a sevenfold increase from $32 million a year earlier, with growth led by tokenized Pokémon trading cards and gacha-style collectible trading. The trend extends Solana's utility well beyond DeFi and memecoins into consumer-facing applications, where frequent low-value transactions benefit from the network's fast settlement and minimal fees. Collector-focused platforms such as Collector Crypt, Courtyard and Deadstock anchored the surge, illustrating how tokenization of physical goods is becoming a distinct demand driver for on-chain throughput as SOL searches for a durable price floor.

COINOTAG's proprietary 42-indicator composite scoring engine rates immediate resistance at $71.89 at 76/100, driven by the confluence of the Pivot Point and Ichimoku Kijun, with the heavier $74.75 barrier scoring 78/100 from the Fibo 0.382 and Donchian Upper. On the downside, the $67.94 support carries a 67/100 reading, anchored by the ATR Lower and Swing Low. Derivatives data shows a marginally negative funding rate of -0.0033%, $1.64 billion in open interest and a long/short ratio of 3.03 — 75.2% long, crowded positioning against a Fear & Greed reading of 23 (Extreme Fear). A reclaim of $74.75 would favour the bulls, while losing $67.94 invalidates the recovery thesis.