SOL Token Dips 3.24% Amid Surging Volatility and $34K Liquidations Despite DeFi Strength

Solana (SOLUSDT) experienced a 3.24% price decline over the past 24 hours, dropping from a 24h open of $140.28 to a current price of $135.73 on Binance. This short-term pullback can be attributed to profit-taking and increased market volatility following a period of heightened trading activity, as evidenced by recent liquidations of $33,986 in short positions at $140.3167 and a significant spike in trading volumes. Despite strong on-chain growth, record DeFi metrics, and positive sentiment around the "Solana Summer" narrative, SOL failed to sustain support above $140 amid broader market fluctuations and ongoing ETF speculation. The market remains highly active, with Solana maintaining a top-6 market cap position, robust liquidity, and elevated trading volumes, though price action is currently consolidating below recent resistance levels.