SOL Token Drops 8.5% Amid Geopolitical Tensions Despite Strong Network Activity and $5B Trading Volume

Solana (SOL) experienced a significant price decline of approximately 8.5% over the past 24 hours, dropping from a 24-hour open of $140.68 to a current Binance price of $128.71. This decrease is primarily attributed to heightened market volatility driven by ongoing geopolitical tensions, particularly in the Middle East, which have affected major cryptocurrencies and increased risk-off sentiment among traders. Despite recent positive developments such as Solana’s strong network activity, robust validator income, and the launch of Soft Staking on Binance, these factors were outweighed by broader market concerns. As of June 22, 2025, SOL’s market capitalization stands at $71.63 billion with a 24-hour trading volume of approximately $5 billion, and the asset remains under pressure after breaking below key support levels, though medium-term sentiment remains cautiously optimistic if support stabilizes.