SOL Token Drops 5.65% Amid $600M Liquidation, Maintains Strong Ecosystem and $376M Trading Volume

Solana (SOLUSDT) experienced a notable 24-hour price decline of 5.65%, currently trading at $126.86 on Binance. The recent drop can be attributed to a combination of macroeconomic factors such as U.S.–EU trade tensions, a $600 million long liquidation event impacting major crypto assets, and pronounced short liquidations for Solana. Additional downward pressure came from a broader bearish sentiment, technical breakdowns below key support levels, and volatility following sharp corrections in Solana ecosystem tokens and meme coins. Despite the negative market sentiment, Solana continues to see strong ecosystem development, institutional inflows, and robust trading activity, with a 24-hour volume of $376 million on Binance and a market capitalization of approximately $71.75 billion.