SOL Token Shows Resilience Amid $5.8M Futures Liquidations and $7.47M ETF Inflows

Solana (SOLUSDT) experienced a 2.73% decline over the past 24 hours, closing at $122.01 on Binance, with the price opening at $125.43. The recent downward movement is attributed to a combination of factors, including substantial futures liquidations totaling $5.8 million—mostly affecting long positions—and broader market sentiment characterized by "Extreme Fear" following a period of sharp price declines among high-beta altcoins. Despite this, Solana saw notable positive developments such as a $7.47 million net inflow into U.S.-listed spot ETFs and increased staking activity, as evidenced by a single wallet staking approximately 1,173,614 SOL (valued at $148 million). Additionally, Solana’s ongoing quantum-resistant upgrade and the Firedancer validator client launch have provided longer-term bullish support, though near-term volatility remains elevated.

Currently, SOLUSDT is trading around $122.01 with a 24-hour trading volume ranging from $3.05 billion to $3.55 billion and a market capitalization between $69.02 billion and $70.98 billion, reflecting high on-chain activity and continued investor interest in both spot and ETF markets.