SOL Token Dips 3% as REX-Osprey Staking ETF Launch Spurs Volatility and Institutional Interest

Solana (SOLUSDT) is trading at $147.78, down 3.06% over the past 24 hours, with a 24h open of $152.45. The recent price decrease is primarily attributed to profit-taking and market volatility following the launch of the REX-Osprey Solana + Staking ETF on Cboe, which initially generated optimism and increased trading activity. Additional contributing factors include mixed technical signals, with analysts watching key support at $147.80 and resistance at $153, as well as broader market movements influenced by Bitcoin's price action. Despite the short-term dip, Solana maintains a strong market presence, ranking #6 by market capitalization, with a circulating supply of approximately 534.73 million SOL and a 24-hour trading volume between $3.50 billion and $4.07 billion. Recent developments, such as increased institutional interest and new ETF products, continue to drive active trading and investor attention.