SOL Token Faces 3% Drop Amid ETF Launch, $4B Trading Surge, and Major Institutional Moves

Solana (SOLUSDT) experienced a 3.12% decline over the past 24 hours, with the price dropping from an open of 152.94 to 148.17 on Binance. The recent price movement is primarily attributed to ongoing market volatility following the launch of the REX-Osprey SSK SOL ETF on the CBOE, increased institutional activity such as DeFi Development Corp’s acquisition of 17,760 SOL, and significant USDC minting on the Solana network by Circle. While these developments have driven interest and trading volume—over $4 billion in the last 24 hours—the market remains cautious, with technical resistance near $155 and support around $145. Solana currently trades at 148.17 with a market capitalization of approximately $79 billion and remains ranked #6 by market cap, reflecting strong ongoing activity despite short-term price pressure.