SOL Token Dips 4.95% Amid Market Downturn, Eyes on DeFi Growth and ETF Prospects

Solana (SOL) is trading at $158.29, down 4.95% over the last 24 hours, with a notable drop from the 24h open of $166.54 and a significant decrease in trading volume (-39.38%) to approximately $1.59 billion. The recent price decline is primarily attributed to broader negative sentiment across the cryptocurrency market, as there were no major Solana-specific technical or regulatory events reported during this period. Despite the short-term pullback, Solana continues to attract attention due to strong ecosystem growth, record DeFi activity, and heightened anticipation for a potential spot Solana ETF approval in the U.S., expected to be reviewed as early as July 2025. The asset maintains a market capitalization of around $83.82 billion, with ongoing institutional interest and technological developments supporting its long-term outlook.