SOL Token Slides 4.36% Amid Market Volatility as Trading Volume Surges Near $5 Billion

Solana (SOL) is currently trading at $139.21 on Binance, down 4.36% over the last 24 hours from an open of $145.56. The recent price decline can be attributed to broader market volatility driven by macroeconomic factors such as U.S. Federal Reserve interest rate decisions and ongoing geopolitical tensions, as well as technical pressures with SOL trading below key exponential moving averages and testing major support levels around $140. Despite strong network fundamentals, including record validator participation and ecosystem growth, short-term sentiment remains cautious due to increased selling pressure and a spike in trading volume, signaling heightened trader activity as the market awaits a decisive move from current consolidation levels. Market capitalization stands at approximately $76.97 billion, with 24-hour trading volume near $5 billion, reflecting active trading during this period of uncertainty.