SOL Token Slides 2.47% Amid Major Holder Sell-Off Despite $21.8M Institutional Inflows and ETF Filings

Solana (SOLUSDT) declined by 2.47% over the past 24 hours, with the current price at $174.81 according to Binance. The price drop is primarily attributed to increased selling activity by major holders and a decrease in overall market volume, which stands at $5.48 billion. Despite recent positive developments such as institutional inflows totaling $21.8 million, new ETF filings, and record-high wallet activity, short-term technical indicators remain neutral and traders are closely monitoring key support and resistance levels. Solana maintains a market capitalization of approximately $94.56 billion, ranking #6 by market cap, with a circulating supply of 539.66 million tokens.