SOL (Solana) has fallen 5.39% in the last 24 hours.

Gate News Bot news, on September 23, according to CoinMarketCap, as of the time of writing, SOL (Solana) is currently priced at $219.83, down 5.39% in the last 24 hours, with a high of $253.21 and a low of $216.92. The 24-hour volume reached $11.487 billion. The current market capitalization is approximately $119.427 billion, a decrease of about $6.798 billion compared to yesterday.

Solana is a Web3 infrastructure built for everyone. Solana supports a variety of experiences for both seasoned users and new consumers, providing developers with powerful features and offering fast services to all. Solana supports the large-scale adoption of decentralized applications through its low-cost and efficient transaction processing capabilities.

Important recent news about SOL:

1️⃣ Institutional investors continue to increase their holdings of SOL Public company Helius Medical Technologies has purchased over 760,000 SOL for an average cost of $231. In addition, a certain whale bought 134,628 SOL in the past 6 hours, worth approximately $32.4 million. This indicates that institutional investors have a positive outlook on the long-term value of SOL, which may provide support for the price of SOL.

2️⃣ Solana ecosystem continues to expand Circle issued 500 million USDC on the Solana network, and PancakeSwap has expanded its cross-chain swapping feature to Solana. These initiatives help enhance the liquidity and use cases of the Solana network, which may attract more users and developers into the ecosystem.

3️⃣ SOL treasury project continues to advance Multiple companies have launched or expanded SOL treasury projects. Solmate (formerly Brera Holdings) has completed a $300 million financing for the SOL treasury, and DFDV has introduced a treasury accelerator program. These initiatives may increase institutional demand for SOL, benefiting long-term price stability.

From a technical perspective, SOL is currently facing an important support level at 200 dollars. If this level cannot be maintained, it may face further fall risks. However, considering the continuous entry of institutional investors and the expansion of the ecosystem, the long-term fundamentals remain positive. Investors need to closely monitor short-term market sentiment changes and long-term development trends.

This message is not intended as investment advice; investors should be aware of market volatility risks.