Solana Price Declines 7.84% Ahead of REX-Osprey ETF Launch
Solana (SOL) experienced a 7.84% decline in price over the past 24 hours, trading at $145.08 as of July 1, 2025. This decline occurred while the broader crypto market, represented by the CoinDesk 20 index, decreased only 0.24%.
The drop follows closely before the launch of the REX-Osprey SOL + Staking ETF, scheduled for July 2, 2025. This ETF will be the first U.S.-listed fund providing direct exposure to SOL and access to staking rewards, allocating approximately 80% of its assets to SOL, with about 50% actively staked. The fund is structured under the Investment Company Act of 1940, which may enhance investor protections and stimulate institutional participation.
Key points:
- SOL fell from $157.42 to $145.08, losing $12.34 in value.
- Resistance was noted at $157.42 during initial trading.
- Highest trading volume exceeded 1.57 million units around 06:00 UTC, with price rejection near $151.50.
- Support appeared at $146.55 during the 14:00 UTC hour, indicating accumulation interest.
- Further decline observed from $146.31 to $145.08 in the final analysis hour.
- Price action formed a descending channel with lower highs and lows throughout the trading period.