SOL Token Faces 2.64% Dip Amid SEC ETF Delay and Strong Institutional Interest

Solana (SOLUSDT) experienced a 2.64% price decline over the past 24 hours, with the current price at $208.50 on Binance, opening at $214.16. The price movement is attributed to mixed market signals: while bullish sentiment was driven by recent investments in Solayer, increased developer activity, and significant treasury holdings, short-term volatility followed the SEC's delay of a Solana ETF decision and technical resistance near the $220 level. Despite strong institutional interest and record-high open interest in derivatives, the market saw consolidation and profit-taking after recent highs. Trading volume remains robust, and Solana continues to show high activity and liquidity, with circulating supply stable around 540 million SOL and market capitalization estimates ranging from $103 billion to $116 billion across major platforms.