SOL Token Faces 2% Price Dip Amid Whale Liquidations but Shows Strength in DeFi and Staking

Solana (SOLUSDT) experienced a 2.03% price decline over the last 24 hours, closing at $127.62 on Binance, attributed to broader market volatility and the lack of momentum in major cryptocurrencies such as Bitcoin. Additional downward pressure came from the liquidation of significant long positions, including a $3.05 million loss by a DASH Whale Short on January 23rd, as well as decreased overall market activity. Despite the price drop, Solana continues to demonstrate strong network fundamentals with high DeFi volume, record staking ratios, and ongoing ecosystem developments such as the expansion of tokenized assets. The 24-hour trading volume on Binance remains robust at $3.35 billion, with prices fluctuating between $130.94 and $126.73, underscoring continued market interest and activity in Solana.