SOL Rebounds 2.41% as Ecosystem Growth Counters ETF Uncertainty and May Selloff

Solana (SOL) is currently trading at $159.12 with a 24-hour price increase of 2.41% and a trading volume of approximately $3.2 billion, while the market capitalization stands at $83.36 billion. The recent price movement reflects a recovery from earlier declines, which were primarily driven by negative sentiment following U.S. SEC concerns over pending Ethereum and Solana spot ETF launches, resulting in a notable end-of-May selloff and a temporary drop in network activity and open interest. Despite these pressures, Solana’s ecosystem fundamentals remain strong, with continued growth in new wallet addresses and a record stablecoin market cap, supporting ongoing market interest amid short-term caution.