SOL Token Holds Strong Amid 5.78% Price Drop, DeFi Surge and Onchain Growth Highlight Resilience

Solana (SOL) experienced a notable price decline of 5.78% over the past 24 hours, with the current price at $130.95 on Binance, opening at $138.99. The drop is primarily attributed to broader crypto market volatility, including external macroeconomic pressures such as a spike in oil prices, which has led to a significant sell-off across digital assets. Despite the recent correction, Solana maintains strong trading activity and a high market rank, supported by positive network developments such as increased DeFi activity, stablecoin growth, and robust application revenue. Additionally, the ongoing PIXEL APR Boost Lottery campaign and improved onchain metrics, including a low NVT ratio, reflect heightened network engagement. Trading volume remains elevated, reinforcing Solana's status as a leading cryptocurrency amid current market fluctuations.