SOL Token Dips 2.61% Amid ETF Optimism and Record DeFi Activity, Trading Volume Hits $4.84B

Solana (SOL) is currently trading at $145.40 on Binance, reflecting a 24-hour price decline of 2.61% from the previous open of $149.29. The recent price drop can be attributed to short-term profit-taking following a period of strong bullish sentiment driven by optimism around potential spot Solana ETF approvals, with multiple asset managers including CoinShares, Fidelity, and Franklin Templeton filing S-1 forms with the SEC. While ETF approval odds have surged to 91% and network fundamentals remain strong—evidenced by record stablecoin market capitalization and high DeFi activity—market volatility and overbought technical conditions have likely contributed to the recent pullback.

Despite the short-term decline, Solana maintains robust trading activity with a 24-hour volume of $4.84 billion, a market capitalization of $77.88 billion, and a circulating supply of 527.87 million SOL, positioning it as a leading protocol in the cryptocurrency market.