SOL Token Dips 2% Amid FTX Unstaking, But $200M Financing and ETF Hopes Fuel Active Trading

SOLUSDT traded lower over the last 24 hours, with the price declining by 2.08% to 159.84 USDT on Binance. The price decrease can be attributed to recent large-scale SOL movements, including FTX’s unstaking of 189,851 SOL as part of bankruptcy proceedings, which may have contributed to short-term selling pressure. Despite this, the market remains highly active, supported by positive developments such as Upexi's $200 million Solana-backed financing, increased ETF approval expectations, and new institutional investments. Trading volume for SOLUSDT over the past 24 hours was robust, ranging from $4.5 billion to $5.08 billion, with a circulating supply of approximately 536 million SOL and a market capitalization near $86–88 billion.