SOL Token Sees 5.99% Price Drop Amid Whale Moves, $137M ETF Inflows and Hong Kong Launch

Solana (SOLUSDT) experienced a notable price decline of 5.99% over the past 24 hours, with the current price at 174.56 USDT on Binance, opening at 185.69 USDT. The price drop is primarily attributed to increased selling pressure from large holders and institutions, as well as significant outflows following recent volatility after reaching a high of $186.80. Despite this, whale accumulation and strong institutional interest, including over $137 million in ETF inflows since mid-July, indicate underlying market resilience. The launch of regulated Solana trading for retail investors in Hong Kong and ongoing ecosystem developments, such as new integrations and campaigns, continue to support positive sentiment.

Solana maintains robust trading activity with a 24-hour volume between $6.43 billion and $7.20 billion, a market capitalization of approximately $95.10 billion, and a circulating supply of around 540 million tokens, while the price fluctuated between $169 and $187 in the last day.