SOL Token Drops 6.2% Amid ETF Buzz and Regulatory Shifts, Eyes Key $130 Support

Solana (SOL) experienced a 6.20% price decline over the past 24 hours, with the current Binance price at $145.27, down from a 24-hour open of $154.88. This drop is attributed to a combination of recent regulatory developments, macroeconomic uncertainty, and profit-taking following a period of heightened optimism around potential U.S. spot Solana ETF approvals. Despite strong institutional interest—evidenced by futures open interest reaching multi-year highs and major asset managers filing ETF applications—short-term volatility has increased as the market reacts to both positive ETF news and ongoing regulatory caution. Solana maintains a strong market position, ranking #6 by market capitalization, with a 24-hour trading volume of approximately $6.45 billion, but faces key support levels at $130 and $118 if bearish momentum persists.