Solana Slips after SBI Taps Network for Tokenised Japan Equity Fund
Solana (SOLUSD) price declined by 2.94% in 24 hours to $75.67 on Thursday. underperforming a broader market dip primarily driven by profit-taking after a recent macro-driven rally.
The move aligns with a risk-off shift as traders lock in gains following softer US inflation data, with Solana-specific ETF outflows adding pressure.
Solana’s decline is part of a broader market pullback, with the total crypto market cap down 1.44%. The rally was initially fueled by softer-than-expected June US inflation data, which reduced expectations for Federal Reserve rate hikes.
As the initial euphoria faded, traders, including those who bought recent lows, began locking in profits. Solana underperformed Bitcoin, which fell 1.42%, indicating amplified selling pressure on the altcoin.
The move reflects a typical cooling-off phase after a headline-driven surge, not a fundamental breakdown. Sustained inflows into spot Bitcoin and Ethereum ETFs, which would signal renewed institutional risk appetite.
Technically, Solana broke below its 20-day Exponential Moving Average (EMA) near $76.78 and the 50-day EMA near $78.76, signalling weakened short-term momentum.
Its 24-hour trading volume fell 13.87% to $1.82 billion, indicating a lack of new buyers to absorb the selling. Concurrently, spot Solana ETFs recorded a net outflow of $707,100 on July 15, extending a trend of institutional caution.
The immediate technical battleground is between support at $74.81 (the 38.2% Fibonacci retracement level) and resistance at $78.13 (the 23.6% level).
A hold above $74.81 could see a retest of the $78–$80 zone. However, a break below this key support opens the path toward the next Fibonacci level at $72.06.
The market’s direction will hinge on whether Bitcoin can stabilise above $64,000 and if Solana ETF flows turn positive. The bias is cautiously bearish in the very near term unless buying interest resurges at current levels.
The combination of post-CPI profit-taking and weak technical structure has shifted near-term momentum to the downside for Solana.
SBI Global Asset Management has launched the world’s first tokenized Japanese equity fund on the Solana blockchain through a partnership with DigiFT, bringing a high-dividend equity strategy on-chain for institutional and accredited investors.
According to an announcement shared by SBI Global Asset Management on July 15, the company has introduced the SBI Japan High Dividend Equity Strategy Token (JX token) in collaboration with DigiFT, a regulated real-world asset exchange.
The token gives accredited and institutional investors blockchain-based access to a Japanese high-dividend equity strategy managed by SBI Asset Management Co. The launch is also DigiFT’s first on-chain tokenisation of a Japanese equity fund.
Built on the Solana blockchain through DigiFT’s tokenisation infrastructure, the JX token expands SBI’s digital asset offerings beyond stablecoins and payments.
According to DigiFT, the product combines traditional Japanese equities with blockchain-based ownership while allowing investors to access institutional-grade assets on-chain. SOL Dips Amid SBI, Solana JV for Japan On-Chain Financial Market
