SOL Token Faces 3% Dip as ETF Approval Odds Surge and On-Chain Activity Intensifies

Solana (SOL) is currently trading at $148.57 on Binance, down 3.10% over the last 24 hours from a 24h open of $153.33. The recent price decline is primarily attributed to a combination of profit-taking after a recent rebound, increased on-chain activity such as the transfer of 180,000 SOL to an exchange and the Solana Foundation unlocking 520,000 SOL, as well as broader market volatility. Despite the price pullback, trading volume remains robust at over $4 billion, reflecting ongoing market interest. Key developments influencing sentiment include a surge in Solana ETF approval odds to 76%, institutional participation through acquisitions like MemeStrategy’s 2,440 SOL purchase, and ecosystem growth with new DeFi projects launching on Solana. Overall, the market remains active with strong liquidity, but short-term price action is cautious amid recent technical corrections and increased circulating supply.