SOL Token Surges 3% Amid $175M Liquidations, Regulatory Moves, and Abu Dhabi Expansion

In the last 24 hours, Solana (SOLUSDT) experienced notable price volatility, largely attributed to a wave of liquidations exceeding $175 million in long positions, increased trading activity, and recent regulatory developments. The SEC's decision to block leveraged crypto ETFs, including those for Solana, contributed to market uncertainty, while positive news such as expanding Solana infrastructure in Abu Dhabi, new cross-chain bridge initiatives, and the launch of Franklin Templeton's Solana ETF helped bolster market sentiment.

Currently, SOLUSDT is trading at $136.03 on Binance, up 3.07% from the 24-hour open of $131.98, with a robust market capitalization and significant trading volume reflecting sustained investor interest. The price fluctuated between approximately $128 and $138 across exchanges, supported by a 24-hour trading volume nearing $5 billion.