SOL Token Drops 4.63% Amid Market Volatility Despite $2.6B Volume and Major Ecosystem Moves

Solana (SOL) experienced a notable price decline over the last 24 hours, with the Binance price dropping 4.63% from a 24h open of $144.83 to $138.12. This downward movement contrasts with earlier positive momentum attributed to institutional interest, such as Sol Strategies’ Nasdaq filing and increased leveraged participation, as well as ecosystem developments like Circle’s $250 million USDC mint on Solana and the launch of high-yield staking offers. However, the recent sell-off may be linked to profit-taking after previous gains, broader market volatility, and ongoing governance uncertainties highlighted by Jupiter DEX pausing DAO voting. Despite the short-term price drop, Solana remains highly liquid, with 24h trading volumes exceeding $2.6 billion and a market cap near $77 billion, ranking it as the sixth-largest cryptocurrency, though it continues to trade significantly below its all-time high.