Solana (SOL) was changing hands near $105 on October 23, still capped by resistance at $109 and $110 after a month of steady losses. The token has shed roughly 12% of its value in October and last quoted around $103, but it has so far defended the $100 threshold.

The muted price action contrasted with a significant development on the network itself. Securitize confirmed that 12 tokenized U.S. stocks, including Apple, Tesla, and Nvidia, are now live on Solana for eligible investors. The news landed as SOL entered the final week of October still below its $118 opening price for the month.

Solana Price Remains Below Two Moving Averages

SOL climbed as high as $124 on October 2, then slid to $100 by October 18. Buyers stepped in to defend the $103 area during the week starting October 19, yet the rebound fell short of restoring the token's monthly opening level. Even at $105, SOL sat about 11% beneath $118.

On the daily chart, the 20-day moving average sits near $109 and the 50-day average just above it, close to $110, forming two layers of resistance immediately overhead. Moving averages smooth recent closing prices into a single trend line and are among the most closely watched reference levels in technical analysis, and trading beneath both has kept SOL in a short-term downtrend for most of the month. Recovering from $105 to $110 would take a gain of roughly 4.8%.

Downside support has formed near $100, October's lowest recorded price. The October 8 session began at $116 and ended near $110, and every daily close since has stayed under $111, compressing the token into an increasingly narrow 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 accessible to eligible investors, per its announcement on X. The offering itself was first unveiled on October 8. Tokenized equities — blockchain representations of traditional shares — have become one of the more closely watched corners of the real-world-asset sector as platforms experiment with extending stock-market access beyond conventional exchange hours.

The debut lineup includes Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, Amazon, Netflix, Circle, SpaceX, Strategy, and Palantir. The list spans the largest U.S.-listed technology companies as well as SpaceX, whose shares do not trade on public exchanges. Each token represents a security entitlement linked to one underlying company share, and Securitize states that it holds one share against every token without lending them out.

Solana was selected to process transactions on the firm's registered brokerage platform, with settlement conducted in USDC, a stablecoin pegged to the U.S. dollar that is issued by Circle — itself one of the twelve listed names. The design brings conventional equity exposure onto blockchain-based trading rails while preserving eligibility screens and securities rules.

Investors Face Eligibility and Ownership Requirements

Access to Securitize Stocks is limited to eligible participants in the United States, the European Union, and other permitted jurisdictions. Prospective customers must pass identity verification and satisfy the applicable onboarding requirements before they can trade. Within the U.S., the service is offered through Securitize Markets, a broker-dealer registered with the SEC.

Once onboard, investors can buy tokens with USDC and custody them in supported Solana wallets. The platform advertises continuous trading 24 hours a day, five days a week — a schedule that differs from the fixed session hours of the traditional exchanges where the underlying shares list — with Jump Trading acting as market maker to supply liquidity for transactions.

Further venues are still in the works: Securitize has said its tokens could eventually trade on a planned New York Stock Exchange digital venue as well as the OKXICE tokenized securities platform.

The company adds that the structure supports applicable dividend benefits and voting rights, although registering shares directly requires conversion through available arrangements.

ETF Withdrawals Accompany Weak SOL Trading

Separate fund-flow data showed U.S. Solana exchange-traded funds logging approximately $17 million in net outflows October 19 through October 22, meaning redemptions outpaced new subscriptions over that stretch. Per the reported figures, the funds saw positive flows on just two days during October. The outflow streak overlapped with SOL's stretch below its shorter-term moving averages.

Solana switched on its Alpenglow upgrade on October 21, which targets transaction finality of roughly 150 milliseconds — the point at which a transaction becomes irreversible on the network — a sharp reduction from the previous 12.8 seconds. Even so, SOL still traded near $104 the next day. Securitize's stock offering gives the network another use case, though it does not create 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.

This article originally appeared on The Market Periodical.