Up 99% in 6 Months, Is Solana Still a Buy?

It's no wonder why Solana (CRYPTO: SOL) has investors wanting to know if they are late to buy it. Over the last six months its price is up by 99%, and the last three months saw gains near 54%.

Can this coin keep gaining value, or is it near the end of the road?

Image source: Getty Images.

New capital is creating new opportunities

There are two big reasons to expect Solana's impressive run to continue over the coming months and perhaps even years.

When people hear about real-world asset (RWA) tokenization, their eyes, quite understandably, may start to glaze over. But it's a very important concept to know, and it's deeply relevant here.

In plain terms, real-world asset tokenization means encoding the ownership of everyday assets like stocks, bonds, or exchange-traded funds (ETFs) onto a crypto token that's managed via a blockchain. That makes asset management, transfers, and transaction settlement significantly faster, cheaper, and programmable or even fully automatable with the help of smart contracts.

If that sounds pointless, remember that Wall Street's financial plumbing still runs on old technology, batch files, and waiting periods, much of which only operates while the market is officially open. Moving records on-chain turns days-long waiting periods for investors into minutes, with fewer intermediaries and an auditable public record.

With this in mind, two fresh data points show that Solana is getting a rising share of that action.

Solana's total on-chain RWA base is rising fast, especially in tokenized stocks. As of today, there are roughly $689 million of tokenized RWAs parked on Solana, up more than 38% over the 30 days ending on Oct. 3, while the broader tokenization market across all chains is above $32 billion and quickly rising too. That value is created from big inflows from funds and asset issuers, both of which tend to hold their investments in place rather than churn them once they're established. The Solana ecosystem itself is leaning in to accommodate their capital, publishing playbooks and developer tooling for tokenized equities issuance that reduce friction for issuers.

Furthermore, thanks to the recent launch of the xStocks platform on the chain, investors can now buy tokenized versions of stocks they know, like Nvidia, Microsoft, Meta, and many others. So as more capital is onboarding to Solana to participate in the RWA ecosystem, in parallel there are more and more hooks to keep capital on the chain rather than being offramped.

The upshot here is that more assets living on Solana means more transactions and more reasons to hold SOL to pay for activity and participate in staking. And that's a big argument for it not being too late to buy the coin.

Treasury adoption can extend the move

Another driver behind Solana's rise is that more balance sheets want to buy and hold it.

A handful of public companies and a growing roster of purpose-built digital asset treasury (DAT) companies have announced plans to accumulate and stake Solana as a long-term asset. Several million SOL already sit on corporate balance sheets, with room to grow if more issuers follow the same playbook. Given that DATs are relatively new, the odds are good that more will be launching soon.

Digital asset treasury company buyers remove float from the supply and often stake their holdings, adding to a holder base that overall sells less frequently. If RWAs continue to build and treasury demand compounds, Solana's flywheel strengthens; more assets will attract more users, which drive more fees and activity, which then justifies more treasury exposure and infrastructure.

So, is Solana still a buy after the run? Yes, especially for long-term investors who dollar-cost average and are buying the utility trend rather than the price chart. The most interesting portion of the investment thesis for this coin rests on real assets continuing to move on-chain and on balance sheet demand that does not flip overnight, and both of those are playing out right now. Keep your horizon long, your position sizing sane, and your eyes on the pipeline of tokenized funds and equities landing on Solana next.

Alex Carchidi has positions in Meta Platforms, Nvidia, and Solana. The Motley Fool has positions in and recommends Meta Platforms, Microsoft, Nvidia, and Solana. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.