SOL Token Dips 4% Amid U.S. Solana Staking ETF Launch and Record Wallet Growth

Solana (SOLUSDT) experienced a price decline of approximately 4.08% over the past 24 hours, with the current price at $146.54 on Binance. The recent volatility is largely attributed to mixed market sentiment following the launch of the first U.S.-based Solana staking ETF, which saw strong initial inflows and trading volumes but was followed by profit-taking and resistance at higher price levels. Additional factors influencing the price include broader market trends, technical consolidation, and the SEC's approval of the Grayscale Digital Large Cap Fund ETF conversion (which includes SOL), though its launch is currently paused pending further regulatory review. Despite a record number of wallets holding SOL and continued institutional interest, the market is currently consolidating, with trading volumes between $3.23 billion and $4.40 billion and a market capitalization ranging from $78.34 billion to $81.59 billion.