SOL Token Slides 8.7% Amid ETF Uncertainty, High Volume Signals Ongoing Institutional Interest

Solana (SOLUSDT) is currently trading at $145.06 on Binance, reflecting an 8.71% decline over the past 24 hours from an opening price of $158.90. The price drop is primarily attributed to heightened volatility following recent regulatory developments, including ongoing reviews of potential spot Solana ETFs by U.S. regulators and the SEC’s requests for amendments to ETF filings. While institutional interest remains strong—evidenced by a $5 billion line of credit for SOL acquisitions and increased derivatives open interest—short-term sentiment has been impacted by profit-taking, rapid trading activity, and broader market uncertainty. Despite the recent decline, trading volume remains elevated at $5.50 billion, and Solana retains its position as the 6th largest cryptocurrency by market capitalization at $75.93 billion. Optimism persists around ETF approval prospects and ongoing ecosystem innovation, but near-term price action is highly sensitive to regulatory and market news.