SOL Token Rebounds After 9% Drop Amid ETF Hopes, High Volume, and Institutional Interest

Solana (SOLUSDT) experienced a notable price decline of approximately 9.18% over the past 24 hours, with the current price at $144.67 and a 24-hour opening price of $159.30. The recent price drop is primarily attributed to increased volatility following U.S. tariff announcements, which triggered liquidations and a contraction in market capitalization. However, after trade negotiations paused further tariff increases, Solana and other Layer 1 assets began to recover. Additionally, ongoing speculation and positive sentiment around potential SEC approval of spot Solana ETFs, along with strong institutional interest and rising adoption in DeFi, have contributed to significant trading activity and price swings.

Currently, Solana maintains a high trading volume of $5.5 billion and a market cap of approximately $75.93 billion, ranking sixth among cryptocurrencies. Despite the recent pullback, market sentiment remains optimistic due to ETF developments and continued institutional accumulation, though regulatory uncertainty and market volatility persist as key risk factors.