SOL Token Dips 2.23% to $149.88 Despite DeFi Boost from Native WBTC Launch

Solana (SOL) is currently trading at $149.88 on Binance, reflecting a 2.23% decline over the past 24 hours with a 24h open of $153.30. The recent price drop is attributed to heightened bearish sentiment and increased volatility across the broader cryptocurrency market, as highlighted by reports describing SOL as entering "freefall." Despite the launch of Native Wrapped Bitcoin (WBTC) on the Solana network—a development that enhances DeFi capabilities and cross-chain liquidity—market participants appear focused on short-term downside risks, with analysts debating the potential for a rebound toward $250. Trading volume remains elevated, indicating active participation amid the price correction. Solana maintains its position as the sixth-largest cryptocurrency by market capitalization, with a circulating supply of approximately 524.10 million tokens and a market cap near $77.5 billion.