Key takeaways:

• SOL’s rebound to $72 shows bullish futures and airdrop hopes, but falling TVL and low DEX volumes point to fragile onchain demand.
• Tokenized stocks spark hype on Solana, yet Pump.fun dependence and Hyperliquid competition threaten sustained SOL momentum.

Solana native token SOL jumped to $72 on Friday, distancing itself from the $64 lows the prior day. Part of traders’ optimism stemmed from the stellar growth of tokenized stock trading, fueled by the AI sector. However, increasing competition in decentralized application networks could limit SOL’s short-term upside.