SOL (Solana) fell 5.81% in the last 24 hours.

Gate News Bot news, on November 21, according to CoinMarketCap data, as of the time of writing, SOL (Solana) is currently priced at $133.95, down 5.81% in the last 24 hours, with a high of $145.47 and a low of $129.02, and the 24-hour volume reached $809 million. The current market capitalization is approximately $74.864 billion, a decrease of about $4.617 billion compared to yesterday.

Important news about SOL recently:

1️⃣ Institutional investment enthusiasm continues to rise

Multiple asset management companies have launched Solana spot ETF products, attracting a large inflow of funds. 21Shares' Solana ETF has an initial asset size of 100 million USD, and the Solana ETF has currently raised a total of 2 billion USD. Large institutions such as VanEck and Fidelity have also successively launched SOL ETF products. The continuous optimism from institutional investors provides strong support for the SOL price.

2️⃣ Large capital flow is active

On-chain data shows that multiple large wallet addresses are frequently operating SOL. A newly created wallet has cumulatively purchased 100,791 SOL from several exchanges, totaling approximately 14 million USD. Additionally, two unknown wallets have withdrawn 70,000 SOL from centralized exchanges, valued at approximately 9.8 million USD. These large fund movements reflect a positive market sentiment towards SOL.

3️⃣ The ecosystem continues to expand

New projects based on Solana are constantly emerging and gaining user favor. A community-driven Meme Token has quickly gained popularity on the Solana chain, allowing investors to achieve a 450% return with a principal of only $9,900. Additionally, the market capitalization of SOL Meme coin has surpassed $44.5 million, with a daily increase of over 66%. These phenomena indicate that the Solana ecosystem is attracting more and more developers and users to participate.

From a technical perspective, although the price of SOL has experienced a short-term adjustment, considering the continued increase in institutional investment, significant capital inflow, and the rapid development of the ecosystem, the medium to long-term outlook for SOL remains positive. However, investors still need to closely monitor market fluctuations and assess potential risks.

This message does not constitute investment advice; investors should be aware of market volatility risks.