Solana Will Lead Tokenization, Hyperliquid the 'Perpification of Everything': Ryan Watkins

Solana's SOL SOL token is trading at $144.04, down 0.62% in the past 24 hours, after briefly climbing as high as $147.73 earlier in the session, according to CoinDesk Research's technical analysis model.

The move came amid a spike in trading volume and fresh commentary from Syncracy Capital Co-Founder Ryan Watkins, who reaffirmed Solana’s long-term importance in the evolving crypto economy.

Watkins, whose firm makes concentrated, thesis-driven investments in crypto, followed up on a prediction he made in May, when he called the competition between Solana and Hyperliquid “the cryptoeconomy’s defining battle” as U.S. equities begin migrating onchain. At the time, he suggested that the winner could become a $100 billion to $500 billion platform capable of reshaping capital markets.

On June 25, in a new post on X, Watkins said that Solana now appears set to lead the “tokenization of everything,” while Hyperliquid is positioned to dominate the perpetual futures space. The remarks reinforced market narratives around Solana’s potential to support the next wave of blockchain-based financial infrastructure.

Institutional interest in Solana continues to rise, with CME Futures volume for SOL recently hitting a record high of 1.75 million contracts. Market watchers have taken this as a sign of deepening engagement from sophisticated investors even as price action cools from recent highs. SOL’s current support levels and structural strength are drawing attention ahead of potential retests of the $148–$150 range.

Technical Analysis Highlights

• SOL traded in a 24-hour range of $4.96 (3.47%) from $145.09 to $147.45.
• Support was established at $143.02, with resistance encountered at $147.98.
• Between 13:06 and 14:05 UTC, price rose from $146.27 to $147.31, a 0.71% gain.
• The session high of $147.98 was recorded between 13:43 and 13:46 on strong volume.
• A resistance band formed between $147.90 and $148.00, while support held at $146.70.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.