SOL Token Dips 4% to $140 Amid Market Volatility, But Institutional Demand and Upgrades Surge

Solana (SOL) is currently trading at $140.71 on Binance, reflecting a 4.02% decline over the past 24 hours from a 24h open of $146.61. The price decrease is primarily attributed to broad market volatility, recent corrections following a drop from May highs, and sector-specific factors such as disruptions in memecoin trading. Despite the short-term decline, institutional interest remains strong, as evidenced by increased holdings in Grayscale’s Solana Trust and new ETF filings by major issuers. Ongoing network upgrades and significant ecosystem events, including large token burns and fundraising in Solana-based projects, continue to support high trading activity and liquidity. Solana maintains its position as a top 10 cryptocurrency by market capitalization, with sustained high trading volume and robust ecosystem development.