SOL Token Sees $106M Institutional Move Amid 9% Weekly Drop and Surging Exchange Outflows

Solana (SOL) is currently trading at $147.45 on Binance, reflecting a 3.32% decline over the past 24 hours from a 24h open of $152.52, with a substantial 24-hour trading volume exceeding $4.75 billion. The recent price decrease is primarily attributed to heightened market volatility, large-scale institutional transactions—including a notable $106 million transfer—and ongoing regulatory scrutiny, which has negatively impacted investor sentiment and contributed to a 9% weekly decline. Additionally, recent drops in Solana’s total value locked in DeFi and decentralized exchange volumes indicate reduced network activity, further pressuring the price. Despite these factors, significant SOL outflows from exchanges into private wallets suggest that investors are accumulating and holding for the long term, while institutional interest remains strong, as evidenced by corporate treasury acquisition plans. Solana continues to maintain its position as the second-largest DeFi ecosystem, with upcoming network upgrades expected to influence future performance.