SOL Token Dips 3.44% Despite ETF Filings and Surging Institutional Interest Amid $4.57B Volume

Solana (SOL) experienced a 3.44% decline over the past 24 hours, with the price falling from a 24h open of $155.83 to $150.47 on Binance. This price pullback occurred despite several positive developments, including the filing of S-1 forms for spot Solana ETFs by major asset managers such as Fidelity, Grayscale, VanEck, and others, as well as increased institutional activity like MemeStrategy’s acquisition of SOL in Asia and a 10% rise in Solana futures open interest. While these events have generated strong institutional interest and optimism, short-term profit-taking and broader market volatility have outweighed bullish sentiment, leading to the observed price decrease. Trading volume remains robust at approximately $4.57 billion, with SOL holding a market capitalization near $81 billion and technical indicators showing neutral to slightly bullish momentum on lower timeframes.