SOL Token Dips 3% Despite ETF Launch and $12M Inflows, Institutional Interest Remains Strong

Solana (SOLUSDT) is trading at $147.37 on Binance, reflecting a 3.03% decrease over the past 24 hours from an opening price of $151.98. The recent price decline follows a period of heightened activity, including the launch of the REX-Osprey Solana + Staking ETF in the U.S., which attracted $12 million on its first day and generated $33 million in trading volume, as well as significant institutional accumulation by DeFi Development Corp. While these developments have bolstered longer-term sentiment and contributed to a 3.38%–4.40% weekly price increase, short-term profit-taking and a decrease in trading volume (now between $3.32 billion and $4.08 billion) have contributed to the recent downward price movement. Solana maintains a strong market capitalization of approximately $79.15 billion, with ongoing positive sentiment supported by new financial products, increased institutional interest, and robust on-chain activity.