SOL Drops 4.88% Amid $30M On-Chain Sale Despite $1B Ecosystem Boost and MetaMask Integration

Solana (SOL) is currently trading at $169.94, with a 24-hour trading volume of approximately $3.5 billion and a market capitalization of about $66.6 billion; the price has declined by 4.88% over the past 24 hours. The recent price decrease follows a period of heightened volatility and profit-taking, likely influenced by a large on-chain sale of $30 million in SOL and broader market fluctuations after a strong rally earlier in May. Despite positive developments such as a $1 billion investment into the Solana ecosystem, MetaMask’s integration of Solana, and bullish institutional forecasts, short-term selling pressure and general market corrections have contributed to the recent downward movement. Overall, Solana remains supported by strong DeFi activity, robust stablecoin growth, and continued ecosystem expansion, though near-term price action reflects both profit-taking and sensitivity to broader crypto market sentiment.