SOL Token Faces 3.15% Drop Amid ETF Delays, $22M Investment, and Robust Trading Volume

Solana (SOLUSDT) experienced a 3.15% price decrease over the past 24 hours, with the current price at $187.55 on Binance. The decline is attributed to broader market sentiment shifts following the release of the U.S. July Producer Price Index data, which influenced expectations for Federal Reserve policy and impacted risk assets, including cryptocurrencies. Additionally, the SEC's delay in decisions regarding Solana-based ETF proposals contributed to market uncertainty. Despite the short-term volatility, Solana saw notable developments such as DeFi Dev Corp.'s $22 million purchase of SOL, expanded retail access in Hong Kong, and the launch of a U.S. ETF offering Solana exposure and staking rewards. Trading volume remains robust at approximately $7.6 billion to $8.74 billion, with a market capitalization near $99 billion to $101 billion and a circulating supply of about 540 million SOL.