SOL Token Surges 5.71% as On-Chain Activity and Institutional Holdings Drive $7.22B Volume

Solana (SOLUSDT) has experienced a notable price increase of 5.71% over the past 24 hours, with the current price at $188.22 on Binance, up from a 24-hour open of $178.06. The price change is attributed to several key factors: significant on-chain activity driven by platforms like Pump.Fun, which has boosted Solana's Total Value Locked to $219.02 million; increased institutional interest, as publicly traded companies now hold over $591 million in SOL; and heightened trading activity, evidenced by a 24-hour trading volume of approximately $7.22 billion. Additionally, large transfers from Binance to market makers and net outflows from major holders have contributed to market liquidity and volatility. Overall, Solana remains one of the top-ranked cryptocurrencies by market capitalization, with strong investor interest and robust trading activity supporting its recent rally.