SOL Sees 2.77% Dip Amid Developer Exits, But $500M Institutional Deal Signals Strong Support

Solana (SOL) is currently trading at $152.22 on Binance, reflecting a 2.77% decrease over the past 24 hours with a 24-hour open of $156.56 and notable trading volume. The recent price decline is attributed to reduced trading activity following a brief rally, as well as reports of key developers exiting the ecosystem and ongoing shifts within the Solana community. Despite these short-term pressures, institutional interest remains strong, highlighted by Classover Holdings’ agreement with Solana Growth Ventures for up to $500 million in convertible notes—up to 80% of which may be used for direct SOL purchases—and a recent acquisition of 6,472 SOL. Additional support for Solana’s fundamentals comes from record-high daily active addresses and a growing stablecoin supply, though current market sentiment is tempered by ecosystem changes and short-term volatility.