SOL Token Slides 6.43% Amid Network Upgrades, Whale Moves, and Surging $5.73B Trading Volume

Solana (SOLUSDT) has experienced a 6.43% price decline over the past 24 hours, currently trading at $180.62 on Binance. The price drop is primarily attributed to recent network upgrades, including the Solana v1.17 update and the ongoing Alpenglow Consensus proposal, which have generated mixed market sentiment and increased volatility. Additional factors influencing the decline include a significant whale transfer of 39,875 SOL to Bybit, heightened regulatory attention with the SEC delaying ETF decisions, and a notable increase in trading volume, up over 24% in the last day. Despite the recent dip, Solana remains highly active, with a 24-hour trading volume of $5.73 billion and a market capitalization of approximately $98.05 billion, continuing to outperform other smart contract platforms over the past week.