SOL Token Surges 2.51% as Institutional Holdings Top $591M and Trading Volume Hits $6.35B

Solana (SOLUSDT) has experienced a 2.51% price increase over the past 24 hours, currently trading at $178.44 on Binance. The price movement is attributed to several factors, including a large transaction of 70,558 SOL sold on HyperLiquid, growing institutional interest with publicly traded companies holding over $591 million in SOL, and positive technical signals such as a breakout from a falling wedge pattern and strong support above $172. Additionally, broader market optimism driven by potential regulatory changes allowing 401(k) investments in cryptocurrencies and the launch of Mastercard deposit and withdrawal services for European users have contributed to increased trading activity and sentiment. Solana's 24-hour trading volume remains high, reaching up to $6.35 billion, with the price fluctuating between $170.01 and $179.63, and a market capitalization of approximately $95.31 billion, reflecting robust market participation and continued interest from both retail and institutional investors.