SOL Token Dips 2% Amid $750M ETF Inflows and Major Institutional Moves Signal Resilience

SOLUSDT experienced a 2.02% decline over the last 24 hours on Binance, with the current price at $121.95 and trading volume at 2.40 million SOL ($296.61 million USDT). The price drop is mainly attributed to ongoing market volatility, bearish sentiment, and rotation of capital from altcoins to Bitcoin, despite short-term relief bounces supported by buyers at key levels. Notable recent developments include $750 million in net inflows into Solana ETFs, JPMorgan's $50 million commercial paper issuance via the Solana blockchain, and strategic backing for Solana projects, all signaling strong institutional interest. However, pressures such as a sliding TVL and fading memecoin demand have contributed to near-term weakness. Solana remains the seventh largest cryptocurrency, with a market capitalization of $68.27 billion and a circulating supply of approximately 562.54 million SOL.