SOL Token Drops 3.71% Amid Market Sell-Off, Institutional Interest and Trading Volume Remain Strong

Solana (SOLUSDT) experienced a 3.71% price decrease over the past 24 hours, with the current price at $187.80 on Binance. The decline is primarily attributed to broader market sell-offs triggered by the higher-than-expected July U.S. Producer Price Index (PPI) release, which led to liquidations of leveraged long positions across the cryptocurrency sector. Despite this short-term pullback, Solana continues to see strong institutional interest, highlighted by significant inflows into staking ETFs and increased accumulation by large holders. Trading activity remains robust, with 24-hour volume exceeding $7.6 billion and the asset maintaining a market capitalization of approximately $101.58 billion, ranking it as the sixth largest cryptocurrency.