SOL (Solana) fell 5.72% in 24 hours

Gate News Bot news, December 1, according to CoinMarketCap data, as of the time of writing, SOL (Solana) is currently priced at $128.51, with a 5.72% fall in the last 24 hours, reaching a high of $144.47 and a low of $127.89. The 24-hour volume has reached $4.122 billion. The current market capitalization is approximately $71.922 billion, a decrease of about $4.36 billion compared to yesterday.

Solana is a high-performance blockchain platform designed to support decentralized applications and cryptocurrencies. It utilizes innovative technology to achieve fast transactions and low costs, enabling large-scale applications. Solana is committed to providing developers with powerful tools while offering users a fast experience.

Important news about SOL recently:

1️⃣ Franklin Templeton Submits Final Application for Solana ETF Franklin Templeton submitted the final application documents for the Solana ETF to the SEC, with a fee rate of 0.19%, which is currently the lowest among Solana ETFs. The company will also waive fees for the first $5 billion in assets under management until May 31, 2026. This low-cost strategy is expected to attract more investors and further drive the development of the Solana ETF market.

2️⃣ Solana ETF continues to attract capital inflow Solana spot ETFs have achieved net inflows for 20 consecutive trading days, attracting a total of $568 million. The total net assets of the six Solana ETF funds have reached $844 million, accounting for approximately 1.09% of SOL's market capitalization. The continuous inflow of funds highlights institutional investors' long-term optimism for Solana, providing strong support for SOL prices.

3️⃣ Circle increases USDC issuance on the Solana network Circle has newly minted approximately 500 million USDC on the Solana network. This move reflects confidence in the stability of the Solana network and trading demand, helping to enhance the liquidity and application scenarios of the Solana ecosystem.

From a technical perspective, SOL has recently experienced a pullback in price and may face some pressure in the short term. However, the continuous inflow of institutional funds and the development of the ecosystem still provide long-term support for SOL. Investors need to pay attention to recent changes in market sentiment and the progress of the ecosystem to evaluate SOL's medium to long-term trend.

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