SOL Token Retreats 2% After REX-Osprey ETF Launch Amid Falling On-Chain Activity and DEX Volumes

Solana (SOLUSDT) experienced a 2.06% price decline over the past 24 hours, with the current Binance price at $151.88, opening at $155.08. The price change follows the recent launch of the REX-Osprey Solana + Staking ETF on July 2, 2025, which initially boosted trading activity and sentiment, as reflected in record CME futures volume and strong institutional inflows. However, the positive momentum was short-lived due to declining on-chain activity in June, with key metrics such as Real Economic Value and DEX volumes dropping significantly, contributing to bearish pressure. Despite institutional accumulation and optimism around potential ETF approvals, SOL faced resistance near the 50-day simple moving average and failed to sustain gains above key levels, resulting in the recent pullback.

Currently, Solana trades in the $151.88 range with a 24-hour trading range between approximately $147.12 and $156.36, market capitalization estimated between $80.12 billion and $83.09 billion, and circulating supply around 534.73 million SOL, while 24-hour trading volumes vary widely across platforms.