SOL (Solana) down 3.83% in 24 hours

According to Gate News Bot on December 5, citing CoinMarketCap data, as of press time, SOL (Solana) is trading at $138.12, down 3.83% in the past 24 hours, with a high of $146.72 and a low of $123.31. The 24-hour trading volume reached $4.069 billion. The current market capitalization is about $77.331 billion, down $3.078 billion from yesterday.

Solana is a high-performance blockchain platform that provides developers with fast, secure, and scalable infrastructure. It supports a wide range of user experiences, making it accessible to both professional users and new consumers. Solana processes transactions quickly, with transaction fees lower than $0.0025 per transaction, and is validated by thousands of independent nodes to ensure data security and censorship resistance. The network uses a proof-of-stake mechanism, which has minimal environmental impact, with each transaction consuming as much energy as a few Google searches.

Recent major news about SOL:

1️⃣ Solana ecosystem DeFi protocol Drift launches v3 version with significant performance upgrades The Drift v3 version has rebuilt its backend system, increasing the platform’s trading execution speed by 10 times. About 85% of market orders can be executed within half a second, with significantly enhanced liquidity and slippage for large trades reduced to about 0.02%. This upgrade aims to make on-chain derivatives trading smoother and more stable, and is expected to attract more users and capital into the Solana ecosystem.

2️⃣ Franklin Templeton Solana ETF approved for listing and trading The Franklin Solana ETF (ticker: SOEZ) has been officially approved for listing and trading on the NYSE Arca. It will be one of the latest Solana spot ETFs in the US market, competing with the six existing SOL funds for the attention of institutional and retail investors. Institutional interest in Solana continues to rise, which is expected to bring more capital support to SOL.

3️⃣ Solana Mobile plans to issue ecosystem token SKR Solana Mobile announced it will launch its native token SKR for its mobile device ecosystem in January 2026, with a total issuance of 10 billion tokens. 30% of the tokens will be airdropped, primarily targeting Seeker mobile users and active dApp users. This initiative aims to promote the development of the Solana mobile ecosystem and may attract more developers and users to participate.

From a technical perspective, the SOL price has recently experienced a pullback and is currently seeking support around $138. Continued institutional capital inflows and rapid ecosystem development still provide long-term support for SOL, but there may be some short-term adjustment pressure.

This information does not constitute investment advice. Please be aware of market volatility risks when investing.