SOL Faces 3.15% Drop Amid DeFi TVL Slide, Yet Institutional and Dubai Partnerships Bolster Outlook

Solana (SOL) is currently trading at $155.33 on Binance, reflecting a 3.15% decline over the past 24 hours with a 24-hour open of $160.39 and continued high trading volumes around $3 billion. The recent price decrease is primarily attributed to ongoing technical consolidation, cautious sentiment following a 5% drop in total value locked (TVL) in Solana DeFi protocols, and a 28.2% decline in DEX volumes, alongside broader market volatility and regulatory developments, including discussions around potential Solana-based ETFs. Despite these pressures, institutional interest remains strong, highlighted by Classover Holdings’ acquisition of 6,472 SOL and plans for further investment, while ecosystem developments such as new partnerships in Dubai and active NFT trading continue to support long-term interest in the asset.