SOL Token Drops 10.61% Amid Whale Moves, DeFi Pause, and ETF Anticipation

Solana (SOLUSDT) experienced a notable price decline over the past 24 hours, with the price dropping 10.61% from an open of $160.25 to $143.25. This downturn follows a period of heightened trading activity during the Binance Alpha trading points event and significant market developments, including a $320 million whale transfer and DeFi Development pausing further SOL purchases due to SEC-related paperwork issues. Despite positive news such as Societe Generale-FORGE announcing a USD-pegged stablecoin on Solana and anticipation for spot SOL ETF approvals, market sentiment remains cautious, as reflected in the bearish technical indicators and increased volatility. As of June 13, 2025, Solana’s market cap stands at $80.18 billion with a 24-hour trading volume of $3.68 billion, ranking it #6 by market capitalization.