SOL Faces 2.25% Dip Amid ETF Scrutiny, Yet Institutional Backing and Adoption Surge

Solana (SOL) is currently trading at $156.16, with a 24-hour trading volume of approximately $3.39 billion and a market capitalization near $81.9 billion; the price has declined by 2.25% over the past 24 hours. The recent price decrease is primarily attributed to ongoing concerns over SEC scrutiny of planned Ethereum and Solana ETF launches, which contributed to broader market volatility and an 11.45% drop at the end of May. Despite this, Solana’s fundamentals remain strong, supported by significant institutional investments such as Classover Holdings’ $500 million Solana treasury strategy, growing user adoption, and active ecosystem development, including new strategic partnerships and increased spot trading activity, particularly during Asian trading hours.