SOL Token Surges 5% as Trading Volume Tops $4.57 Billion Amid Market Volatility

SOLUSDT saw a 5.04% price increase in the last 24 hours, rising from a 24h open of $118.61 to a current Binance price of $124.59. The upward movement was driven by a combination of high trading activity, significant long liquidations totaling over $128.59 million that prompted short positions from whale accounts, and ongoing market volatility. Positive developments such as the Grayscale Solana Trust's index update and a general rise in top cryptocurrencies, including Bitcoin surpassing $87,000, contributed to renewed interest. Despite short-term selling pressure and recent underperformance relative to the broader market, Solana’s trading volume remained robust, exceeding $4.57 billion, and its market capitalization is estimated between $68.7 billion and $72.84 billion, with active trading concentrated on Binance.