SOL Token Dips 2.53% Amid Market Correction Despite ETF Filing and DeFi Growth Signals

Solana (SOL) is trading at $141.60 on Binance, reflecting a 2.53% decline over the past 24 hours from an open of $145.27. The recent price decrease can be attributed to broader market volatility and a continued correction following a strong rally earlier in June, as well as profit-taking by investors amid a lack of major positive catalysts in the past day. Although recent news highlights ongoing institutional interest—such as Invesco Galaxy's Solana ETF filing and sustained growth in DeFi and NFT activity—these developments have not immediately offset short-term selling pressure. SOL remains ranked #6 by market capitalization, with a circulating supply of over 534 million and daily trading volumes among the highest in the crypto sector, though it has underperformed major benchmarks over the past week and month. Despite the recent downturn, analysts maintain a positive long-term outlook due to robust ecosystem growth and continued institutional engagement.