SOL Token Surges 4.27% After v1.21 Upgrade and Hong Kong Retail Approval Boost

Solana (SOLUSDT) has risen 4.27% in the past 24 hours, currently trading at $186.39 on Binance, with a 24-hour open of $178.75. The price increase is primarily attributed to the recent v1.21 network upgrade, which has improved transaction throughput and reduced validator downtime, as well as growing institutional interest following Hong Kong’s approval of Solana for retail trading and a notable inflow of funds into the ecosystem. Despite some profit-taking by large holders and $2.02 million in liquidations, technical indicators remain bullish, supported by strong network activity and rising DEX volumes. Solana’s market capitalization is over $100 billion, with a 24-hour trading volume of $6.81 billion, reflecting high investor engagement and ongoing volatility.