SOL (Solana) down 2.53% in the past 24 hours, with a 24-hour trading volume of $3 billion

Gate News Bot Message, December 24 — According to CoinMarketCap data, at the time of press, SOL (Solana) is trading at $121.29, down 2.53% in the past 24 hours. The highest price reached $133.44, and the lowest dropped to $117.32. The 24-hour trading volume is $3 billion. The current market capitalization is approximately $68.231 billion, a decrease of $1.774 billion from yesterday.

Solana is a leading high-performance network powering internet capital markets, payments, and crypto applications. To date, the Solana network has processed over 472 million transactions, with a throughput of 2,635 transactions per second. Monthly active addresses number 50 million, with 3.5 billion monthly transactions, totaling $3.3 trillion in transaction volume, and application revenues reaching $3.4 billion.

As the world’s largest fintech platform, Solana has attracted top global institutions and companies including Western Union, Visa, PayPal, Franklin Templeton, and BlackRock for development. Notably, the USDPT stablecoin from Western Union is set to launch in 2026. Visa has settled millions of dollars on its platform, and PayPal has issued the PYUSD stablecoin. Additionally, Franklin Templeton’s assets built on Solana have grown 64% month-over-month, R3’s regulated on-chain assets reach $10 billion, and Bullish’s daily trading volume averages $2.5 billion.

Recent Important SOL News:

1️⃣ Enhanced Ecosystem Infrastructure Improves User Experience
The Solana Foundation has launched the ConnectorKit wallet connection SDK and Kora fee relay and signing nodes, providing developers with modern wallet connection, management, and fee solutions. Kora supports full fee payment, custom fee tokens (including stablecoins), and six remote signers, effectively lowering user barriers. The newly introduced x402 payment protocol explores applications within the Solana ecosystem, laying a technical foundation for native internet payment solutions. These infrastructure upgrades directly improve DApp usability within the ecosystem and create conditions for long-term user growth.

2️⃣ Continuous Institutional Capital Inflows and On-Chain Asset Expansion
From December 19 to 23, Solana spot ETFs saw a net inflow of 319,005 SOL (approximately $39.24 million), contrasting sharply with significant net outflows from Bitcoin and Ethereum ETFs during the same period, highlighting institutional optimism toward SOL. Companies like Upexi and MemeStrategy have increased their SOL holdings through SEC registration and financing progress. Upexi has submitted Form S-3 to the SEC to optimize Solana asset management, while MemeStrategy completed an HKD 84.07 million financing and increased holdings to 12,290 SOL. These capital flows reflect institutional recognition of Solana’s long-term value.

3️⃣ Derivative Market Risk Structure and Price Volatility Pressure
On-chain data shows that recent long whales have experienced liquidation losses, while short positions continue to accumulate. As of December 24, one whale holds up to $243 million in short positions across BTC, ETH, and SOL, with SOL shorts using 20x leverage. The current SOL price near $126 is close to the whale’s short entry point at $125.6, with nearly break-even profit and loss. Due to highly concentrated leveraged short positions, any upward breakout could trigger reverse liquidations, creating potential for technical rebounds. This structure indicates that short-term prices are susceptible to large holder manipulation, and volatility risks should be closely monitored.

This message is not investment advice. Please be aware of market volatility risks when investing.