SOL Faces 3.45% Price Dip After Token Unlock, But TVL Surges to $9.4 Billion

Solana (SOL) is currently trading at $175.83 on Binance, with a 24-hour trading volume of $5.37 billion and a price decline of 3.45% from the previous day’s open of $182.11. The recent price decrease follows the unlocking of 472,990 SOL tokens associated with the FTX/Alameda bankruptcy, which has raised concerns about increased circulating supply and potential short-term selling pressure. Despite this, Solana has shown strong underlying fundamentals, including a surge in transaction volume, a rise in total value locked (TVL) from $6 billion to $9.4 billion in May, and expanding use cases such as the Alpenglow network upgrade and new integrations like Kalshi accepting SOL deposits. Ongoing ecosystem developments and campaigns, such as Binance’s BNSOL Super Stake, continue to support long-term interest, but the immediate price movement reflects market reactions to the recent token unlock and broader volatility.