Solana price nears $120 as tokenized equity holders hit 1.2 million

Solana (SOL) is experiencing increased network activity, with the number of tokenized-equity holders reaching a record 1.2 million. A significant portion of this growth occurred in September, which saw 775,000 new holders join the network.

As of early October, SOL is trading near the $120 mark. Technical analysis suggests that the $124–$125 range serves as a critical resistance zone. A sustained break above this level could potentially drive the price toward $148. On the downside, immediate support is identified between $116 and $117.

The token has shown strong momentum recently, following a 41.5% rally in August and a 14.6% gain in September. While U.S. Solana ETFs saw a slowdown in inflows last week, the network continues to see rising participation in decentralized finance (DeFi) and tokenized financial assets.