SOL Token Slides 4.41% After SEC Delays ETF Decision, Institutional Accumulation Signals Mixed Sentiment

Solana (SOLUSDT) experienced a 4.41% price decline over the past 24 hours, primarily driven by the U.S. SEC's decision to delay its ruling on spot Solana ETF proposals from Bitwise and 21Shares, which introduced short-term market uncertainty and increased selling pressure. Additional market activity included a significant leveraged short position opened by a large trader and notable accumulation by institutional holders, reflecting mixed sentiment.

Currently, Solana is trading at $185.62 on Binance, with a 24-hour trading volume of approximately $6.9 billion and a market capitalization exceeding $100 billion. The asset remains among the top cryptocurrencies by market cap, with recent price movements showing a retest of support levels and ongoing accumulation by large holders.