Solana has been under pressure this week, with its price sliding to $204.45, down 1.79% in the last 24 hours and nearly 17% over the past seven days. Its market cap now stands at $110.91 billion, with $7.81 billion in trading volume over the last day.  Several factors have contributed to Solana’s price drop. First, the technical breakdown below critical support accelerated selling pressure. Second, hype around ETF approvals has cooled, leading to profit-taking after initial optimism. Finally, broader market conditions worsened as $1.7 billion worth of derivative positions were liquidated, amplifying the downside momentum across altcoins.