Solana Maintains Key Support Amid Correction as Institutional Demand Grows

Solana is holding a significant support level near $96 following a decline from $101, which was partly triggered by the failure of the CLARITY Act to advance in the US Senate. Despite the correction, analysts point to strong institutional interest, evidenced by nine consecutive weeks of net inflows into US spot SOL ETFs and over $200 million in inflows over the past month. Exchange supply of SOL continues to drop, with over 3 million tokens withdrawn recently, while network activity remains robust with millions of new addresses added daily. Additionally, Solana's TVL has increased by over 18% to approximately $5.7 billion, and corporate entities like DeFi Development Corp. are actively expanding their holdings.