SOL Token Drops 5.38% Amid $4.6B Volume and Major On-Chain Withdrawals Despite Ecosystem Growth

Solana (SOL) is currently trading at $145.41 on Binance, reflecting a 5.38% decline over the past 24 hours from an opening price of $153.68. The recent price drop can be attributed to broader market volatility and significant on-chain activity, including the withdrawal of over 3 million SOL tokens from wallets in the past three days. Additionally, while Binance’s integration of Hashflow (HFT) on the Solana network signals ongoing ecosystem development, it has not offset the downward price pressure observed since late May. Solana remains ranked #6 by market capitalization, with a 24-hour trading volume of $4.6 billion, demonstrating continued high market activity despite recent declines.