SOL (Solana) down 8.36% in the last 24 hours

Gate News Bot Message, November 12th, according to CoinMarketCap data, as of press time, SOL (Solana) is trading at $154.56, down 8.36% in the past 24 hours. The highest price reached $171.61, and the lowest dropped to $150.44. The 24-hour trading volume is $6.09 billion. The current market capitalization is approximately $85.611 billion, a decrease of about $7.806 billion from yesterday.

Recent important news about SOL:

1️⃣ Institutional Holdings Show Divergence Upexi has increased its SOL holdings to over 2.1 million tokens, with an unrealized profit of approximately $15 million. Meanwhile, Forward Industries holds about 6.82 million SOL, currently with an unrealized loss of around 24.13%. This divergence reflects different institutional investment strategies and entry timing, highlighting the opportunities and challenges brought by SOL price volatility.

2️⃣ Ecosystem Continues to Expand The Pacifica perpetual contract trading platform on the Solana chain has surpassed 30,000 active users, with a trading volume of $1.05 billion and open interest of approximately $45.92 million. The current TVL is about $38.98 million, and the total supply of points has reached 123 million tokens. This indicates rapid growth in the Solana ecosystem, attracting a large number of users.

3️⃣ Institutional Investment Interest Remains High The US SOL spot ETF saw net inflows of $199 million in its first week of listing, with Bitwise’s BSOL recording net inflows of $197 million. Grayscale announced fee discounts for its Solana Trust ETF (GSOL), temporarily waiving management fees and reducing collateral-related costs. These measures reflect ongoing confidence from institutional investors in SOL.

From a technical perspective, SOL’s price has fallen 8.36% over the past 24 hours, indicating significant correction pressure. However, considering the continuous inflow from institutional investment products and the rapid ecosystem development, SOL still maintains strong market attention. Investors should closely monitor future price movements and trading volume changes to assess potential risks.

This message is not investment advice; please be aware of market volatility risks.