Tokenized stocks on Solana: Formation targets 2027 as SOL slides to $84

Real company shares are set to trade as tokens on the Solana blockchain from early 2027. New York-based Formation Securities LLC told the US Securities and Exchange Commission (SEC) on Monday that it intends to operate a venue for tokenized securities on Solana. The SOL price did not react: on Tuesday morning one Solana costs around $84.40, roughly 75.20 euros, its lowest level in 30 days.

What is confirmed: the announcement is contained in a press release from Formation Securities, trading is to run under the SEC's innovation exemption, and the price sits below its 200-day moving average. Our assessment follows further down: tokenized stocks strengthen Solana's fundamentals, but for the price over the coming weeks the levels at $84 and $89 matter more than a launch date in 2027. Where the price could head over a horizon of months is covered in our Solana price prediction.

Tokenized stocks on Solana: Formation plans a 2027 launch

A tokenized security is a share whose ownership is additionally recorded as a token on a blockchain. A transfer agent still keeps the official register of shareholders; the token is the tradable form. Formation Securities, led by president Christopher Montagano, calls the project a "tokenized securities venue", or TSV for short.

Trading is meant to run around the clock, seven days a week, against stablecoins and other approved assets. According to the release, every trade will settle "atomically" on the blockchain: the token and the consideration change hands in the same operation, or neither does. That is supposed to reduce the settlement risk that sits between execution and delivery in conventional equity trading.

On the technical side, Formation relies on automated market makers, meaning liquidity pools in which an algorithm sets the price from the ratio of the deposited assets. Formation licenses the software from Orca, one of the large decentralized exchanges on Solana. According to the release, more than $550 billion in trading volume had passed through this software by October 31, 2026, and it has been audited eleven times by four independent firms.

Exodus, Galaxy and Forward: the first stocks to arrive as tokens

For the launch, Formation names three securities: Exodus Movement (NYSE: EXOD), Forward Industries (NASDAQ: FWDI) and Galaxy Digital (NASDAQ: GLXY). All three have close ties to the crypto industry. Galaxy Digital is a financial services firm for digital assets, while Exodus builds wallet software.

Superstate and Securitize are to add further tokenized stocks later. Securitize chief executive Carlos Domingo says in the release that each of these tokens is backed by a real share held at the company's own broker-dealer and carries the same rights as that share. Formation requires exactly that: approved tokens must carry voting and dividend rights just like the conventional share.

Investor access is to come through partners such as Alpaca, Passage by CoinList, Anchorage Digital Bank, BitGo Bank & Trust, Fireblocks, Solflare and Squads. Trading is only possible after an identity check. The release does not mention any opening to investors in the EU.

SOL price at $84: Monday's $85 level has broken

On Monday, Solana stood at around $87. In our article on open interest on OKX, the $85 level was the most important number of the week, because it had held twice since Sunday and many leveraged long positions sat just below it. The picture has shifted since then.

On Tuesday morning SOL trades at $84.43, according to CoinGecko 1.8 percent below the previous day and 6.8 percent below its level a week ago. Over 30 days the loss comes to 21.9 percent. The gap to the 200-day moving average, the average of the closing prices of the last 200 days, has widened from just over two to around five percent; the line sits at $89.00.

So two things are new compared with Monday: the $85 level did not hold, and the price has marked a new 30-day low. The leveraged positions that sat just below $85 on Monday are therefore under pressure or have already been closed.

Solana ETFs: $7.68 million in outflows on Monday

The exchange-traded funds on Solana in the US also lost money. On November 9, net outflows came to $7.68 million, according to SoSoValue data. The figure is provisional because the 21Shares numbers were still missing at the time of the evaluation. Bitcoin ETFs saw $201.08 million in outflows on the same day, the third day in a row, and Ether ETFs $184.51 million.

Measured against the Bitcoin funds, the Solana outflow is small. It does show, however, that investors who buy SOL through regulated US products are currently more inclined to pull capital out. A turnaround in fund flows would be the first signal buyers are waiting for.

Validator dispute: Solana Foundation ends start-up support after twelve months

A second issue is stirring the Solana community this week. New rules in the Solana Foundation's delegation program have applied since November 6. A validator is a computer that checks transactions, confirms blocks and earns rewards in return; the more SOL staked with it, the more weight its vote carries in the network. The foundation helps new validators with its own staked SOL and covers part of the cost of their voting transactions.

Under the new rules this support ends twelve months after the first eligible epoch. Anyone with more than 300,000 SOL staked by third parties drops out earlier, according to the foundation's FAQ. Subsidies for voting costs fall step by step from 100 percent to zero. The foundation writes that leaving the program is not a penalty, and that operators who drop out can keep running and apply again.

Layer33, an alliance of independent operators, has called on the foundation in an open letter to suspend the weekly removal rounds. As Coin Gabbar reports, the group points to the Nakamoto coefficient. It indicates how few validators together would hold enough voting weight to halt the network. According to the letter it stands at 8. Layer33 fears that experienced operators will give up and the figure will fall. The group writes that a forced exit turns members into short-term tenants instead of long-term independent operators.

Staking in Germany: commission, validator and tax

Anyone who stakes SOL delegates their coins to a validator and receives a share of the rewards. The validator keeps a commission, a percentage of the reward. If a small operator loses the foundation's staked SOL and has to bear the voting costs alone, it may raise its commission or shut down. The staker's reward then falls without any change in the price.

That is why it is worth checking your own wallet: which validator holds your SOL, how high is its commission, and has it changed in recent weeks? Switching is possible but takes time, because undelegating lasts until the end of an epoch, around two days on Solana. If you would rather stake through an exchange, you will find the providers and their yields in our comparison of staking platforms.

For tax purposes in Germany, staking rewards count as other income under Section 22 No. 3 of the Income Tax Act (EStG) in the year they are received, with an exemption limit of 256 euros a year. Exceed it by even one euro and the whole amount becomes taxable. Selling the SOL themselves remains tax-free after a holding period of one year, and staking does not extend that period. We follow the political state of play on the holding period on our page on the status of the holding period reform.

Support and resistance: $71.89 below, $89 above

After the break below $85, there is no nearby support underneath. The next clear level is the August 2, 2026 low at $71.89, around 15 percent below the current price. Below that lies the year's low of June 7, 2026 at $62.18.

On the upside, the 200-day moving average at $89.00 is the first hurdle. Since the break at the weekend it has acted as resistance. Above it comes the area around $95.50, where the price stood on October 30 and on November 5 before slipping further. The 50-day moving average runs at $106.72 and is currently out of reach.

That leaves two scenarios. In the weaker case, SOL closes below $84 for several days, and the area around $72 comes into view. In the stronger case, a daily close above $89 succeeds; the drop below the line would then have been a false signal, and $95.50 would be the next target.

August comparison: back then, $71.89 was followed by a 52 percent gain

A look back shows how quickly the situation at Solana can turn. On August 2, 2026, SOL stood at $71.89, the low of the month. By August 28 the price had climbed to $109.18, a gain of just over 52 percent in less than four weeks. September brought the autumn high of $122.08 on September 26.

Since then the price has given back almost all of that rise. A year ago, on November 11, 2025, Solana traded at $167.38; today it is around half that. August shows two things: recoveries at Solana come fast and hard, but they only began after the price had found a clear low. No such low is visible yet.

Tokenized stocks in the EU: MiFID II rather than MiCA

For investors in Germany the new US venue changes little for now. In the EU, tokenized stocks are financial instruments. They fall under securities law and the MiFID II directive, not under the MiCA crypto regulation. Anyone offering tokenized stocks here needs authorization as an investment firm; a MiCA license alone is not enough.

If you want to buy SOL today, you do so through an exchange with a MiCA license. Which providers are authorized in Germany and what they cost is shown in our overview of regulated crypto exchanges. For the Solana price, the Formation plan is more of a long-term argument: more trading on the blockchain means more transaction fees, and those are paid in SOL. According to the release, more than $5 billion of tokenized real-world assets already sit on Solana today, a figure that comes from rwa.xyz.

Editorial view: tokenization only supports Solana from 2027

Our assessment: the Formation plan is genuine progress for Solana, but no price driver for this month. In its favor: Orca, an established exchange, supplies the technology, well-known custodians such as Anchorage and BitGo are on board, and the tokens are to carry full shareholder rights. Against it: the launch is only planned for early 2027, only three stocks will be listed at the start, and the price has just fallen below its 200-day moving average while the Solana ETFs are losing money.

For the coming weeks we therefore consider the $89 level decisive. As long as SOL closes below it, the downtrend remains intact. Only a daily close above it would show that buyers are carrying the good news from the network into the price. Cryptocurrencies can fluctuate sharply, and a total loss is possible.

Solana at $84: the picture only turns above $89

1. Set your levels: Note $84 as the lower boundary and $89 as the upper one. If you plan to buy for the first time, you can compare costs beforehand in our exchange comparison and plan the purchase in tranches.
2. Look at your validator: Check your validator's commission in your wallet. If it rises because of the foundation's new rules, you will find alternatives in the staking comparison.
3. Keep tax in mind: Record your purchase date and staking rewards, because the 256-euro exemption limit and the one-year holding period depend on them. You will find a provider with EU authorization among the regulated crypto exchanges.

(As of November 10, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)