SOL Token Slides 4% as Galaxy Digital Moves 224,000 SOL and ETF Interest Grows

Solana (SOLUSDT) experienced a 4.09% price decline over the past 24 hours, with the current price at $174.73 on Binance, down from a 24-hour open of $182.19. The price drop is attributed to a combination of factors, including a significant transfer of 224,000 SOL by Galaxy Digital to exchanges, which may have increased selling pressure, and mixed market sentiment following recent volatility. While institutional interest remains strong, as evidenced by the launch of a new U.S. ETF with Solana exposure and increased institutional buying, technical analysis indicates that failure to hold key support levels around $177.50 and rejection at resistance near $183.35 have contributed to the downward movement. Trading volume remains robust, with 24-hour volume between $7.23 billion and $7.43 billion, and Solana's market capitalization is reported between $94.27 billion and $96.77 billion, reflecting continued high activity and interest in the asset despite recent price fluctuations.