SOL Token Faces 3.32% Dip Despite ETF Launch and Institutional Interest, Market Cap Nears $81B

Solana (SOLUSDT) experienced a 3.32% price decline over the past 24 hours, opening at 153.46 and currently trading at 148.36 on Binance. The recent price drop is primarily attributed to decreased trading activity, with 24-hour volume falling to approximately $3.71–$4.33 billion, despite positive developments such as the launch of the REX-Osprey Solana Staking ETF and increased institutional interest from DeFi Development Corp. While the ETF launch and growing wallet numbers have supported Solana’s weekly outperformance (+5.90% to +8%), broader market sentiment and technical resistance near $155 have limited further gains, with mixed analyst outlooks and some bearish technical signals contributing to short-term volatility. Solana maintains a strong market position, with a circulating supply of about 534.73 million SOL and a market cap near $80–$81.6 billion, but faces near-term resistance and cautious sentiment amid lower trading volumes.