Solana Price Plunges 20% After U.S. Spot ETF Launch

The price of Solana (SOL) took a significant hit, dropping nearly 20% after the launch of U.S. spot ETFs for the cryptocurrency. This sharp decline sparked discussion about potential recovery to $156 based on on-chain data and Solana channels. While ETF inflows have been reported, the actual allocation figures remain undisclosed. The sudden price change highlights investor concerns despite positive reception from the market and raises questions about future volatility in relation to altcoin market reactions to such financial instruments.