SOL Token Dips 2.99% Amid ETF Filing, $1.3B Transfers, and $20M Short Liquidations

Solana (SOL) experienced a 2.99% price decline over the past 24 hours, dropping from a 24h open of $143.12 to $138.84 on Binance. This downward movement follows a period of heightened activity driven by the filing of the Invesco Galaxy Solana ETF (QSOL) application, record CME futures volume, and significant large-scale SOL transfers totaling $1.3 billion. Despite increased institutional interest and ongoing developments such as Upexi’s expanded SOL holdings and plans to tokenize shares, the market saw over $20 million in short liquidations, contributing to recent volatility. SOL’s price has stabilized after a sharp rebound earlier in the week, with technical resistance observed near $146.75–$151 and key support at $136.95; overall, the market remains cautiously bullish if support levels hold, but current trading reflects consolidation and profit-taking after recent advances.