SOL Dips 2.25% as $10M FTX Liquidation Sparks Volatility Amid Strong DeFi Activity

Solana (SOL) is trading at $144.40, down 2.25% over the past 24 hours from a 24h open of $147.72, according to Binance data. The recent price decline is primarily attributed to ongoing asset liquidations by FTX and Alameda Research, which moved $10 million in SOL to multiple wallets as part of bankruptcy proceedings, increasing short-term selling pressure and impacting market liquidity. Broader market weakness linked to heightened geopolitical tensions has also contributed to downward price action, despite continued optimism around potential US-listed Solana spot ETFs and record-high DeFi and stablecoin activity on the network. Solana maintains a strong market position with a $76.9 billion market cap, $3.37 billion in 24h trading volume, and a circulating supply of approximately 508 million SOL, while technical indicators show neutral momentum and overall positive sentiment, though near-term volatility remains elevated.