SOL Token Drops 4.74% Amid ETF Hype, Surging Futures Interest, and Record DeFi Growth

Solana (SOL) experienced a 4.74% price decline over the past 24 hours, with the current price at $152.29 and a 24-hour open of $159.86, according to Binance data. The price drop follows a period of heightened volatility despite positive developments, such as increased open interest in Solana futures (up 12% to $7.54 billion), anticipation for potential SEC approval of a Solana Spot ETF, and strong ecosystem growth including a record $13 billion stablecoin market cap and rising DeFi activity. While optimism around ETF approval and institutional interest has supported Solana in recent weeks, short-term profit-taking and broader market volatility have contributed to the recent pullback. Trading volume remains robust at $3.82 billion, and Solana continues to rank among the top cryptocurrencies by market capitalization, reflecting sustained market engagement despite the correction.