SOL Faces $220M Liquidations Amid Market Volatility, Maintains Strong Ecosystem Growth

Solana (SOL) is currently trading at $170.95 with a 24-hour price decline of 3.16% and a trading volume of approximately $2.96 billion, maintaining a market capitalization near $89.6 billion and ranking #6 among cryptocurrencies. The recent price drop follows over $220 million in liquidations across Binance futures markets, with SOL being among the most affected altcoins, largely attributed to heightened market volatility after news of a proposed 50% tariff on EU imports by the U.S. Despite the short-term decline, Solana’s ecosystem continues to show strong fundamentals, including significant growth in stablecoin issuance and ongoing protocol upgrades, though recent large transactions and shifts in funding rates suggest persistent market activity and evolving investor sentiment.