SOL Token Slides 5.55% Amid $106M Whale Move and Market Volatility, Trading Volume Surges

Solana (SOL) experienced a 5.55% price decline over the past 24 hours, currently trading at $145.15 on Binance after opening at $153.68. The recent price drop is primarily attributed to heightened market volatility, significant whale activity—including a $106 million SOL transfer—and increased outflows that have put pressure on key support levels near $140. Additional contributing factors include broader crypto market liquidations and erratic sentiment, despite ongoing ecosystem developments such as the CUDIS token launch, rising user wallet activity, and new project announcements on Solana. Trading volume remains robust, with over $4.6 billion in 24-hour turnover and a market cap above $75 billion, indicating continued strong market engagement despite short-term downward pressure.