SOL Experiences 5% Decline Following 22% Weekly Gain as BNSOL Staking Launches

Solana (SOL) is currently trading at $174.32 on Binance, with a 24-hour trading volume of approximately $6.74 billion and a 5.08% decline from the previous day's open of $183.65. The recent price decrease follows a period of heightened volatility and strong performance, including a 22.68% weekly gain, with SOL reaching highs above $180 in the past week. The decline in the last 24 hours can be attributed to profit-taking after a significant rally, ongoing consolidation following a bullish reversal earlier in May, and broader market fluctuations. Despite the short-term pullback, strong ecosystem developments such as the launch of the BNSOL staking program on Binance, increased stablecoin issuance, and new protocol proposals have contributed to sustained interest and activity in the Solana network.