SOL Token Holds $150 Amid 48% On-Chain Drop, Institutional Demand Surges with First U.S. Staking ETF

Solana (SOLUSDT) is trading at $150.53 on Binance, down 2.13% over the past 24 hours from an open of $153.81. The recent price decline can be attributed to a combination of factors, including a notable decrease in Solana's on-chain activity during June—such as a 48% drop in Real Economic Value and a 35% reduction in DEX volumes—alongside broader market reactions to macroeconomic data like the latest U.S. Non-Farm Payrolls report. Despite these declines, institutional interest remains strong, highlighted by the launch of the first U.S. Solana staking ETF (SSK) and significant purchases by institutional investors. Over the last 24 hours, trading volume ranged between $3.71 billion and $4.62 billion, with Solana maintaining a market capitalization of approximately $80.44 billion and a circulating supply of about 534.73 million SOL, positioning it as the 6th largest cryptocurrency by market cap.