SOL Token Slides 4.64% Amid Bearish Trend, ETF Inflows and Firedancer Anticipation Sustain Interest

Solana (SOLUSDT) experienced a 4.64% price decline in the past 24 hours, opening at 128.73 and currently trading at 122.76 on Binance. The decrease is primarily attributed to sustained selling pressure and a structurally bearish market bias, with persistent testing of the $122 support level and a series of lower highs reinforcing a cautious outlook. On-chain data from mid-December revealed cooling DeFi activity and a decline in network TVL, contributing to weaker sentiment. Despite these headwinds, Solana saw continued ETF inflows and increased institutional interest, partly driven by the anticipation of the Firedancer launch. The 24-hour trading volume remained strong at approximately $5.24 billion, and Solana's market capitalization stands near $68–71 billion, reflecting active participation amid heightened volatility.