SOL Token Holds Strong at $160 Despite 4.3% Dip, Driven by Institutional Inflows and Staking News

Solana (SOL) is trading at $160.43 on Binance, reflecting a 4.30% decrease over the last 24 hours from an open of $167.63. The recent price decline can be attributed to profit-taking after a period of strong gains, despite continued positive fundamentals such as significant institutional inflows, robust revenue growth, and increased network activity. Additional developments, including Robinhood reinstating SOL staking in the US and Solana’s inclusion in Binance’s Sharia-compliant staking program, have supported recent momentum but have not prevented the short-term pullback. Market activity remains elevated, with high trading volumes and Solana maintaining a market capitalization near $85–87 billion, ranking it as the sixth-largest cryptocurrency. Overall, SOL has shown strong weekly and monthly performance, despite the current minor correction.