SOL Dips 5.81% After Recent Rally, Institutional Interest and DeFi Growth Remain Strong

Solana (SOL) is currently trading at $162.40 with a 24-hour price decline of 5.81% and a recent trading volume of approximately $3.16 billion, maintaining its position as the 6th largest cryptocurrency by market capitalization. The price drop over the last 24 hours can be attributed to profit-taking following a recent rally that saw SOL trade above $170, as well as broader market volatility despite ongoing positive developments such as increased institutional interest, expanding DeFi and NFT activity, and new partnerships like Bitget Wallet joining the Solana Summit 2025. While technical indicators previously signaled bullish momentum and ecosystem growth remains strong, the current correction reflects short-term market fluctuations rather than a shift in Solana’s underlying fundamentals.