SOL Slides Nearly 5% After Rally, But DeFi Growth and $1B Fundraising Sustain Interest

Solana (SOL) is currently trading at $160.77 with a 24-hour opening price of $169.15, reflecting a 4.95% decline over the past day, alongside a 24-hour trading volume of approximately $4.06 billion and a market capitalization between $84.3 billion and $87.4 billion, ranking it #6 among cryptocurrencies. The recent price drop is attributed to short-term volatility following a period of strong bullish momentum and speculative trading activity, as well as profit-taking after Solana's significant rally earlier in 2025; ongoing ecosystem developments, such as DeFi Development Corp's adoption of liquid staking and SOL Strategies' $1 billion fundraising prospectus, continue to support long-term interest and institutional attention, but have not offset the immediate downward price correction.