SOL Token Drops 3.3% Amid $4B Liquidations, Robust Trading Volume Signals Ongoing Market Activity

SOLUSDT experienced a 3.30% decline over the past 24 hours, with the current price at 162.17 USDT (Binance data). The recent price drop is primarily attributed to aggressive deleveraging in the broader crypto market, resulting in over $4 billion in open interest being liquidated in the past two weeks. Despite positive ecosystem developments, such as the global launch of Solana’s Seeker mobile device and growing institutional accumulation by firms like DeFi Growth, short-term sentiment remains cautious due to significant short positions and recent volatility. Trading activity remains robust, with 24-hour volumes near $5 billion and a circulating supply of approximately 538.54 million SOL, supporting Solana’s position as a leading cryptocurrency by market capitalization.