Despite the much-anticipated exchange-traded fund (ETF) deadline approaching, Solana's daily trading volume has continued to decline steadily, and one analyst has suggested that the token's price movement could be influenced by bitcoin's directional bias.
According to CryptoQuant, daily trading volume on the Solana network has plummeted from a peak of 125 million on July 24, 2025 to about 64 million.
According to Bloomberg Intelligence data compiled by Eric Balchunas, the final deadline for the Securities Exchange Commission (SEC) to rule on spot Solana ETF applications filed by issuers such as VanEck, 21Shares, Bitwise, and Franklin is Friday.
Data: Solana daily trading volume drops to 64 million, down nearly 50% from July peak
2025-10-10 04:31:43
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