SOL Token Sees $50M Short Liquidation and $14B Trading Surge Amid Network Activity Spike

Solana (SOLUSDT) experienced a 3.66% price decline over the past 24 hours, with the current price at $192.75 on Binance, attributed to profit-taking after briefly surpassing $200 and a significant short liquidation event of $50.56 million at $202.77 in the futures market. Increased network activity, including a 48% rise in transactions and a 43% increase in fees, alongside large wallet accumulation and transfers to cold storage, have contributed to heightened trading volume, which reached over $14 billion, and sustained investor interest despite recent volatility.