SOL Sees $3.1B Volume Amid 3.3% Drop as Major Holders Move 494,153 Tokens to Coinbase

Solana (SOL) is currently trading at $171.78 with a 24-hour price decrease of 3.30% and a 24-hour trading volume exceeding $3.1 billion, maintaining a strong market capitalization around $91.7 billion. The recent price decline follows a period of significant gains, with SOL up 16.39% over the past month and 5.06% over the past week, but experiencing short-term volatility as large holders moved substantial amounts to exchanges and as the broader market showed mixed sentiment. Despite the latest dip, ongoing ecosystem developments, increased trading activity, and positive technical outlooks have supported recent upward momentum, while the transfer of 494,153 SOL to Coinbase may have contributed to short-term selling pressure and the current price retracement.