SOL Token Surges 4% as $20M USDC Injection and Kamino Unlock Fuel Trading Momentum

Solana (SOLUSDT) has experienced a 4.00% price increase over the past 24 hours, currently trading at $124.14 on Binance, recovering from a recent low attributed to a broader bearish trend and reduced institutional and retail demand. The recovery is likely influenced by a $20 million USDC margin injection into Hyperliquid, aimed at stabilizing leveraged positions in BTC, ETH, and SOL amidst rising unrealized losses, as well as renewed buyer interest around the $128 support area. The asset continues to show significant trading volume, with Binance reporting $323.63 million for the SOL/USDT pair, while overall market activity remains robust but volatile, reflecting ongoing caution as technical indicators point to further downside risk and anticipation of the Kamino Finance token unlock event.