SOL Token Drops 5.44% as SEC ETF Delays Spark Volatility Despite $4B Trading Volume

Solana (SOLUSDT) experienced a notable price decline of 5.44% over the past 24 hours, with the current price at $182.90 on Binance, opening at $193.43. The primary driver of this downward movement is attributed to delays in ETF approvals by the U.S. SEC, which have impacted market sentiment and led to increased volatility. Despite strong trading volumes exceeding $4 billion and ongoing investor interest, technical resistance at $198 and a rejection from this level contributed to the recent price drop. Solana remains a top-ranked cryptocurrency with a market capitalization of approximately $102.68 billion and a circulating supply of around 540 million SOL, continuing to attract attention for its high transaction speeds and active participation in DeFi, NFT, and Web3 sectors.