SOL price is up today, but new developments could negatively weigh on Solana.
), experienced a 5% increase on May 27, trading up from $161 on May 26 to $171. This rise fueled investors' hopes for continued growth, especially since SOL had reached $188.90 on May 21, just days earlier. A significant factor in SOL’s upward movement is a proposal designed to increase yields for validators rather than burning tokens, though network activity remains unchanged.
Some analysts believe that SOL's recent price adjustment is a reaction to a decline caused by the approval of an Ether exchange-traded fund in the United States. The SEC's approval on May 23 propelled ETH to $3,975 on May 27, just shy of its $4,090 peak in 2024., described as a"once in a lifetime bull catalyst.
It remains uncertain how much of SOL’s recent decline to $161 was triggered by speculation around Ether’s ETF approval, nor is it clear how long it will take for these instruments to Given the stagnant on-chain activity and significant criticisms of the inflationary changes due to the elimination of the burn mechanism, it appears unlikely that SOL will soon reclaim its previous high of $188.90.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Bots, airdrops push Ronin to No.2 blockchain for daily users — Not Pixels fans
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