Solana

Backpack

2026

Narrative

Solana’s negative sentiment has reached its highest level of 2026 while SOL trading volume has dropped to its lowest reading of the year, creating one of the chain’s weakest trader-positioning snapshots so far this cycle.
The move comes from Santiment’s <a href="https://app.santiment.net/charts/sol-volume-negative-sentiment-31909?utm_source=x&amp;utm_medium=post&amp;utm_campaign=sol_volume_negative_sentiment_b_070826&amp;aff=3" rel="noopener noreferrer nofollow">SOL volume and negative sentiment chart</a>, which tracks falling trading activity against a sharp rise in bearish commentary. Santiment framed the mix as generally bullish from a contrarian view, not as a confirmed price signal.
<figure class="wp-caption aligncenter"><img src="https://cryptoadventure.com/wp-content/uploads/2026/07/HMwveAGXEAA8_4o-scaled.jpeg" alt="Solana FUD" width="2560" height="1437">
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 Solana FUD by Santiment via X
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SOL traded near $77 at the time of writing, with CoinMarketCap <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">placing</a> 24-hour volume around $2.48 billion and market capitalization near $44.9 billion. The token was down more than 4% over 24 hours, leaving price action weaker even as Solana remained active across tokenized equity and RWA trading.
<h2 id="tokenized-stock-narrative-has-not-carried-sol">Tokenized Stock Narrative Has Not Carried SOL</h2>
The bearish turn follows several weeks of stronger Solana activity around tokenized stocks. Solana-based tokenized equity trading recently reached <a href="https://cryptoadventure.com/solana-tokenized-equity-volume-hits-380m-as-xstocks-and-backpack-lead-trading/" rel="noopener noreferrer nofollow">about $380 million in 24-hour volume</a>, led by xStocks and Backpack-linked products.
Solana also saw a separate record in tokenized stock activity when <a href="https://cryptoadventure.com/solana-tokenized-stocks-hit-record-volume-as-spcx-turns-equity-trading-onchain/" rel="noopener noreferrer nofollow">24-hour spot volume hit $187.9 million</a> as SPCX, xStocks and Backpack Securities pushed more equity-style trading onto the chain.
That activity has not been enough to pull SOL into a stronger price trend. The disconnect is now feeding part of the negative commentary around the token, with traders questioning why RWA momentum has not translated into a cleaner move for the underlying asset.
<h2 id="thin-activity-leaves-room-for-fast-repricing">Thin Activity Leaves Room For Fast Repricing</h2>
Low volume can make sentiment extremes more important because fewer active traders are needed to move price in either direction. When bearish commentary rises while activity thins, a rebound can move quickly if larger buyers step in or short-term positioning becomes crowded.
The Santiment signal does not confirm that SOL has bottomed. It places Solana in a contrarian setup where traders are visibly frustrated, participation is weaker, and bullish narratives around <a href="https://cryptoadventure.com/tokenized-stocks-explained-what-you-own-custody-and-dividends/" rel="noopener noreferrer nofollow">tokenized stocks</a> have not yet repaired price momentum.
SOL remained near $77 during the market check, with 24-hour volume still below the stronger trading bursts seen during recent tokenized equity activity.
The post <a href="https://cryptoadventure.com/solana-fud-hits-2026-high-as-sol-volume-falls-to-yearly-low/" rel="noopener noreferrer nofollow">Solana FUD Hits 2026 High As SOL Volume Falls To Yearly Low</a> appeared first on <a href="https://cryptoadventure.com" rel="noopener noreferrer nofollow">Crypto Adventure</a>.

Solana FUD Hits 2026 High As SOL Volume Falls To Yearly Low

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