SOL Token Drops 6.29% After Major Holder Moves 130,000 SOL, But Institutional Interest Remains Strong

Solana (SOLUSDT) experienced a notable price decline of 6.29% over the past 24 hours, with the current price at $195.60 on Binance, down from a 24h open of $208.72. The price drop is primarily attributed to significant selling pressure following the transfer of 130,000 SOL by a major holder to centralized exchanges, which likely increased short-term supply and prompted profit-taking after SOL recently surpassed the $200 mark. Despite this, Solana continues to see strong institutional interest, robust DeFi activity, and positive regulatory developments, including SEC clarification on Liquid Staking Tokens and ongoing ETF filings. Trading volume remains high, with over $13 billion exchanged in the last 24 hours, reflecting sustained market activity and liquidity.