SOL Token Surges 3% as Web3 Smartphone Launch, Institutional Buys, and Revenue Spike Drive Momentum

Solana (SOLUSDT) has experienced a 3.09% price increase over the past 24 hours, rising from a 24h open of $163.19 to a current price of $168.23 on Binance. This upward movement is primarily attributed to several positive developments: the global shipment launch of Solana's second-generation Web3 smartphone 'Seeker', significant institutional accumulation by Bit Mining and DeFi Development Corp, and a notable surge in application revenues within the Solana ecosystem, which jumped 50% in July to $164 million. Additionally, Solana's futures volume on CME reached $8.1 billion in July, and large holders have been moving SOL to personal wallets, indicating increased confidence and reduced selling pressure.

Currently, Solana is trading at $168.23 with a 24-hour trading volume between $4.08 billion and $5.04 billion, and a market capitalization near $90.6 billion. The price has fluctuated between $161.40 and $171.70 in the last day, reflecting strong trading activity and sustained interest from both institutional and retail participants.