SOL Token Holds Strong Fundamentals Amid 3.96% Price Dip and $5 Billion Trading Volume

Solana (SOL) is currently trading at $134.17, reflecting a 24-hour decline of 3.96% from the previous open of $139.70. The recent price drop can be attributed to broader market volatility and profit-taking following a period of strong network performance and positive sentiment driven by robust DeFi activity, high network revenue, and optimism around potential ETF approval. Despite the pullback, Solana maintains high trading volume at approximately $5 billion and a market capitalization of $73.96 billion, with technical support observed around the $140–$150 range. The network continues to demonstrate strong fundamentals, including over $1 billion in quarterly application revenue, a healthy developer ecosystem, and stable decentralization metrics, which may support future price recovery if market conditions stabilize.