SOL Token Drops 6.38% Amid Market Volatility Despite $1B Q2 Revenue and Ecosystem Growth

Solana (SOLUSDT) experienced a notable price decline of 6.38% over the past 24 hours, dropping from a 24h open of $142.30 to a current price of $133.22 on Binance. This price movement is primarily attributed to broader market volatility affecting major cryptocurrencies, despite strong fundamental developments such as Solana’s network generating over $1 billion in Q2 revenue and continued ecosystem growth in DeFi and NFTs. Recent news highlights SOL’s resilience at the $140 support level, but the latest pullback indicates that technical selling pressure and profit-taking have outweighed positive sentiment, especially as the market reacts to ongoing speculation around Layer-1 blockchain ETFs and sector competition.

Currently, SOL is trading with a 24-hour volume of $3.98 billion and holds a market capitalization of approximately $72.1 billion, ranking #6 by market cap. The asset is consolidating near key support levels ($135–$140), with short-term resistance at $142.91. Market sentiment remains cautiously optimistic as long as SOL sustains above these support levels, but further declines could challenge investor confidence in the short term.