SOL Token Sees 2.42% Dip After Surpassing $200, Fueled by $150M Restaking and ETF Launch

Solana (SOLUSDT) experienced a 2.42% price decrease over the past 24 hours, opening at 198.14 and currently trading at 193.35 on Binance. The recent price movement follows a period of bullish momentum driven by increased investor interest, highlighted by Solayer’s restaking protocol surpassing $150 million in total value locked and ongoing reward campaigns, as well as positive developments such as the launch of a Solana ETF and expanded retail access in Hong Kong. Despite these supportive factors, the short-term pullback may be attributed to profit-taking after SOL’s surge past $200 and technical resistance near recent highs. Trading volume remains robust at approximately $14.49 billion, with Solana maintaining a market capitalization above $103 billion and a circulating supply of around 540 million tokens.