The  $SOL price has dropped by 8% in the past 24 hours, falling to $163.28 on a day when the cryptocurrency market as a whole has lost 4%.

These declines follow the news that the SEC has approved eight spot-based Ethereum ETFs, which follow in the footsteps of the 11 Bitcoin ETFs that gained approval in January. While this is entirely positive news, it appears to have led to a "sell the news" correction, with SOL now also down by 3.5% in a week.

However, its medium- long-term momentum remains enviable, and with the coin up by 740% in a year, it has sustained enough impetus to rebound strongly soon.

Is $10,000 SOL Possible? 🚀