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According to Finbold, Solana (SOL) is showing signs of a potential significant rally, with technical indicators suggesting a possible 1,600% increase in value. The decentralized finance (DeFi) asset is currently forming a 'cup and handle' pattern, a bullish setup that often precedes price breakouts. This pattern, highlighted by cryptocurrency analyst Ali Martinez, indicates a period of accumulation and consolidation, with the base forming between late 2022 and early 2024. The handle, a shorter-term pullback, aligns with Solana's recent price movements around the $250 resistance level. Martinez suggests that if Solana breaks out from this pattern, it could target a record high of around $4,000, supported by the 1.618 Fibonacci extension pointing to $2,236 and the 1.786 extension aligning with the $4,000 target. Solana's current position above the 0.786 retracement level of $123.44 further supports its bullish momentum. However, no specific timeline has been provided for when these targets might be achieved. Achieving a $4,000 price would significantly elevate Solana's market cap, potentially placing it on par with Bitcoin if the latter experiences minimal growth. In the short term, Solana has faced bearish sentiments, but recent developments suggest a potential reversal. Trading analyst CryptoBusy noted a double-bottom pattern in the one-hour timeframe, indicating a possible bullish breakout. If this momentum continues, Solana could target the 0.5 Fibonacci level at $225 and the 0.618 level at $230, with a potential price increase of $10 (4.56%) from the breakout point. On-chain metrics also support this outlook, with data from DeFiLlama showing a surge in Solana's daily trading volume from $2.92 billion to $5.99 billion, reflecting growing liquidity and investor interest. Regulatory developments could also impact Solana's price. The Securities and Exchange Commission (SEC) is anticipated to approve a Solana exchange-traded fund (ETF), although outgoing SEC Chair Gary Gensler has reportedly rejected it, questioning Solana's status as a security. The Solana community remains hopeful for approval under a potential new administration. At the time of reporting, Solana was trading at $225.60, with daily gains of over 5%, although it is down nearly 3% on the weekly chart. Solana's trading above the 50-day and 200-day simple moving averages, along with a 14-day relative strength index of 45.25, suggests room for growth without entering overbought conditions, indicating a strong potential for an impressive 2024.

According to Odaily, Solana's liquid staking protocol, Marinade, has introduced a governance proposal aimed at tackling the issue of malicious validators and democratizing Maximal Extractable Value (MEV) on the Solana network. The proposal invites community feedback and outlines several key initiatives.The first initiative involves the establishment of a public committee to oversee delegations. This committee would be responsible for monitoring and ensuring the integrity of validator operations, thereby enhancing the security and reliability of the network. By creating a transparent oversight mechanism, Marinade aims to mitigate the risks posed by malicious actors within the validator community.Another significant measure proposed is the reopening of the public memory pool. This step is intended to foster greater transparency and accessibility within the network, allowing for more equitable participation in the extraction of MEV. By making the memory pool public, Marinade seeks to level the playing field and prevent any single entity from monopolizing MEV opportunities.Additionally, the proposal includes funding for research into Solana's MEV to enhance transparency and data availability. This research initiative aims to provide the community with a clearer understanding of MEV dynamics on the network, promoting informed decision-making and fostering a more democratic ecosystem.Marinade's proposal reflects a proactive approach to addressing the challenges posed by malicious validators and the concentration of MEV. By engaging the community and implementing these measures, Marinade hopes to strengthen the Solana network's resilience and ensure a fairer distribution of value among its participants.

According to Odaily, recent data from ranger.finance reveals that more than $200 million has been liquidated on the Solana Perps exchange within the past 24 hours. This significant liquidation event highlights the volatility and rapid market movements experienced by traders on the platform. The Solana Perps exchange, known for its decentralized trading environment, has seen a surge in trading activity, leading to substantial liquidations. This development underscores the inherent risks associated with leveraged trading, where market fluctuations can lead to significant financial consequences for traders. The liquidation figures reflect the broader market trends and the challenges faced by participants in navigating the volatile cryptocurrency landscape. As the cryptocurrency market continues to evolve, traders on platforms like Solana Perps must remain vigilant and informed about market conditions. The recent liquidation event serves as a reminder of the importance of risk management strategies in trading. With the ongoing developments in the crypto space, market participants are advised to stay updated on market trends and adjust their trading strategies accordingly to mitigate potential losses.

According to Odaily, Scam Sniffer recently highlighted on platform X that many attackers targeting Solana wallets are circumventing wallet blacklists by utilizing third-party domains. This includes registering expired DAPP domains and exploiting XSS vulnerabilities. Users are advised to be cautious if a DAPP prompts a second window or redirects them to connect in another window, as this could indicate a security risk. In related news, blockchain investigator ZachXBT reported on his Telegram channel that a victim recently suffered a theft of over $2.2 million worth of meme coins on the Solana blockchain. The stolen assets included $1.43 million worth of PNUT, $400,000 worth of ZEREBRO, and $130,000 worth of ALCH. This incident underscores the ongoing vulnerabilities and risks associated with digital asset security on blockchain platforms.

According to Odaily, the cryptocurrency market witnessed a brief surge in Solana's (SOL) price, which momentarily exceeded 240 USDT. However, the price quickly retracted and is currently reported at 239.99 USDT. Over the past 24 hours, Solana has experienced a decline of 0.87%. This fluctuation in Solana's value highlights the volatile nature of the cryptocurrency market, where prices can change rapidly within short periods. Investors and traders are advised to stay informed about market trends and potential factors influencing price movements. The recent dip in Solana's price may prompt market participants to reassess their strategies and monitor further developments closely. As the cryptocurrency landscape continues to evolve, market participants are encouraged to remain vigilant and consider the inherent risks associated with digital asset investments. The dynamic shifts in Solana's price serve as a reminder of the importance of staying updated with the latest market information and trends.

According to DLNews, the US Securities and Exchange Commission (SEC) is expected to reject several applications for Solana spot exchange-traded funds (ETFs), potentially deferring the decision to the next administration. Reports indicate that at least two out of five potential issuers have been informed of the likely rejection. Fox Business reporter Eleanor Terrett, citing sources, suggested that the SEC is unlikely to approve any new crypto ETFs during the Biden administration. Bloomberg Intelligence analyst Eric Balchunas described this as SEC Chair Gary Gensler’s 'parting gift.' Analyst James Seyffart also noted that the SEC’s Trading and Markets division is unlikely to approve a Solana ETF due to the agency's current classification of Solana as a security or securities offering. Seyffart suggested that Gensler might prefer to leave the decision to the next administration.Several major firms, including Bitwise, VanEck, 21Shares, and Canary Capital, have submitted applications to launch Solana ETFs. Institutional interest in Solana has been increasing, driven by its speed, scalability, and rising user activity. Eliezer Ndinga, head of strategy at 21.co, emphasized Solana's growing appeal to investors, noting the ecosystem's momentum. Solana's rapid growth in 2024, with its SOL token rising 160% year-to-date, has further attracted institutional attention. Looking forward, analysts anticipate a shift under President-elect Donald Trump’s incoming SEC Chair, Paul Atkins, known for his crypto-friendly stance and support for digital asset innovation. Trump's regulatory appointments, including Atkins, Treasury Secretary nominee Scott Bessent, and Commerce Secretary nominee Howard Lutnick, indicate a potentially more favorable approach to crypto markets. Analysts like Seyffart believe that the approval of Solana ETFs is a matter of 'when, not if,' with the Trump administration expected to create new opportunities for crypto-friendly capital markets. Gensler is set to step down as SEC chairman on January 20. If Gensler blocks the Solana ETF approvals, Balchunas anticipates that issuers will refile under the Atkins administration.

According to PANews, Solana developers have proposed an increase in the network's block computation limit from 48 million units to 50 million units. This proposal aims to enhance transaction processing and improve network efficiency. The details of this incremental increase were shared through Solana's improvement documentation on GitHub. The proposal is designed to boost transaction handling without compromising network performance.Andrew Fitzgerald, a software developer at Anza and the author of the proposal, mentioned that the idea is still in its draft stage. This indicates that further refinements may occur before final approval is granted. The proposal reflects ongoing efforts to optimize Solana's network capabilities and address the growing demand for efficient transaction processing. As the proposal is still under consideration, stakeholders and developers may continue to discuss and refine the plan to ensure it meets the network's needs effectively.

According to Odaily, Canadian holding company Sol Strategies, which focuses on investments within the Solana ecosystem, has applied for a listing on the Nasdaq. The company currently holds SOL assets valued at $30 million. This move marks a significant step for Sol Strategies as it seeks to expand its presence and influence in the financial markets. The decision to pursue a Nasdaq listing underscores Sol Strategies' commitment to enhancing its investment portfolio and gaining broader access to capital markets. By listing on a major stock exchange, the company aims to attract more investors and increase its visibility within the industry. This development is particularly noteworthy given the growing interest in blockchain technologies and the Solana network, which has been gaining traction for its scalability and speed. Sol Strategies' substantial holdings in SOL, the native cryptocurrency of the Solana blockchain, highlight its strategic focus on this rapidly evolving ecosystem. The company's investment strategy aligns with the increasing adoption of decentralized finance (DeFi) and non-fungible tokens (NFTs) on the Solana platform. As the blockchain industry continues to evolve, Sol Strategies' move to list on Nasdaq could position it advantageously to capitalize on emerging opportunities and trends in the market.

According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) is set to conduct its initial review of Solana ETF applications from four major institutions, including VanEck, 21Shares, Canary, and Bitwise, by January 25, 2025. These institutions submitted their 19b-4 applications, which were officially accepted by the SEC on November 21, 2024. Following the acceptance, the SEC is required to make a preliminary decision within 45 days, which could result in approval, denial, or a request for an extension.In addition to these applications, Grayscale had previously submitted a proposal to convert its Solana Trust into an ETF, with its initial review deadline set for January 23, 2025. The market anticipates that the SEC might opt for a coordinated approach in reviewing these Solana ETF applications. This synchronized review process could potentially streamline the decision-making and regulatory oversight for these financial products, reflecting the growing interest and investment in cryptocurrency-based ETFs. The outcome of these reviews is highly anticipated by market participants, as it could significantly impact the future of Solana ETFs and the broader cryptocurrency market.

According to Odaily, Bloomberg ETF analyst James Seyffart recently expressed his views on the potential approval of a Solana ETF. In a post on X, Seyffart highlighted the growing optimism surrounding the approval of a Solana ETF. He emphasized that under the current SEC administration, led by Trump appointees, the approval is more a matter of 'when' rather than 'if.' However, he cautioned that this does not imply the approval is imminent. Seyffart's comments reflect a broader sentiment in the financial community regarding the future of cryptocurrency ETFs. The anticipation for a Solana ETF is part of a larger trend where investors and analysts are closely watching regulatory developments in the cryptocurrency sector. The SEC's approach to cryptocurrency ETFs has been a topic of significant interest, with many stakeholders eager to see how the regulatory landscape will evolve. The discussion around Solana ETF approval is indicative of the increasing integration of cryptocurrencies into mainstream financial markets. As digital assets continue to gain traction, the potential for new investment vehicles like ETFs becomes more pronounced. Analysts like Seyffart are closely monitoring these developments, providing insights into how regulatory decisions could shape the future of cryptocurrency investments.

According to Odaily, Phantom has announced that it remains unaffected by the recent vulnerability found in the @solana/web3.js library. In a statement on X, Phantom assured users that their security team has verified they have never utilized the compromised versions of @solana/web3.js. Earlier today, Anza's core developer, trent.sol, who is responsible for managing congestion on the Solana network, issued a warning on X. He stated that users of @solana/web3.js versions 1.95.6 and 1.95.7 are at risk of attacks from secret stealers that could potentially leak private keys. Users and products currently operating on these versions are advised to upgrade to version 1.95.8 to ensure security. It is important to note that version 1.95.5 is not affected by this vulnerability.

According to Odaily, Grayscale Investments and the New York Stock Exchange (NYSE) have submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) for a Solana Exchange-Traded Fund (ETF). This filing marks a significant step in the process of potentially launching a Solana ETF, which would provide investors with a new avenue to gain exposure to the Solana blockchain ecosystem through a regulated financial product. The submission of the 19b-4 form is a crucial part of the regulatory process, as it outlines the proposal for the ETF and seeks approval from the SEC. If approved, this ETF would be listed on the NYSE, allowing investors to trade shares that track the performance of Solana, a rapidly growing blockchain known for its high-speed transactions and scalability. The move by Grayscale and NYSE reflects the increasing interest in diversifying cryptocurrency investment options and the growing recognition of Solana's potential in the blockchain space. This development comes amid a broader trend of traditional financial institutions exploring cryptocurrency products, as they seek to meet the rising demand from investors for digital asset exposure. The potential approval of a Solana ETF could further legitimize the cryptocurrency market and provide a more accessible way for institutional and retail investors to participate in the digital asset economy. The SEC's decision on this filing will be closely watched by market participants, as it could set a precedent for future cryptocurrency ETF applications.

According to Odaily, recent data disclosed by SolanaFloor on the X platform reveals that the Solana ecosystem experienced a net inflow of stablecoins exceeding $880 million in November. This significant influx has brought the total market capitalization of Solana's stablecoins to approximately $4.7 billion.The data further highlights that USDC holds a dominant position within the Solana stablecoin market, capturing around 73.35% of the market share. This substantial market presence underscores USDC's role as a key player in the Solana ecosystem, contributing to the overall growth and stability of the platform's financial landscape.

According to Odaily, the Solana ecosystem domain project sns.sol has announced the appointment of a new growth leader. The project has brought on board @0xlight, a former partner at GBV Capital, to spearhead its growth initiatives. This strategic move is expected to enhance the project's development and expand its reach within the blockchain community.The appointment of @0xlight is seen as a significant step for sns.sol, as the project aims to leverage his expertise and experience in the blockchain sector. With a background in capital investment and a deep understanding of the crypto landscape, @0xlight is well-positioned to drive the project's growth strategies. His role will involve identifying new opportunities, fostering partnerships, and implementing innovative solutions to strengthen the project's position in the market.This development comes at a time when the Solana ecosystem is witnessing increased interest and activity. As more projects and developers join the network, the need for robust domain services like those offered by sns.sol becomes increasingly important. The project aims to provide seamless and efficient domain solutions that cater to the growing demands of the Solana community.The addition of @0xlight to the team is expected to bring fresh perspectives and insights, contributing to the project's long-term success. As sns.sol continues to evolve, the focus will remain on delivering high-quality services and expanding its user base. This appointment marks a new chapter for the project, setting the stage for future growth and innovation within the Solana ecosystem.

According to PANews, Solana (SOL) has experienced a brief decline in its market value, dropping below 240 USDT. As of the latest update, SOL is trading at 240.28 USDT, marking a 1.63% decrease over the past 24 hours. This fluctuation in Solana's price reflects the ongoing volatility in the cryptocurrency market, where digital assets frequently experience rapid changes in value. Investors and market analysts continue to monitor these shifts closely, as they can impact trading strategies and investment decisions. The recent dip in Solana's price is part of a broader trend observed across various cryptocurrencies, highlighting the dynamic nature of the digital asset market. As the market evolves, stakeholders remain vigilant, assessing potential risks and opportunities that arise from such price movements. The current trading environment underscores the importance of staying informed and adapting to market conditions to navigate the complexities of cryptocurrency investments effectively.

According to Odaily, the cryptocurrency Solana (SOL) has experienced a notable price increase, surpassing the 245 USDT mark. As of the latest update, SOL is trading at 245.42 USDT, reflecting a 24-hour growth of 3.62%. This upward movement in Solana's price highlights the ongoing volatility and dynamic nature of the cryptocurrency market. Investors and traders are closely monitoring these fluctuations as they navigate the complexities of digital asset investments. The recent price surge may attract further attention from market participants looking to capitalize on potential gains. The cryptocurrency market continues to be influenced by various factors, including investor sentiment, market trends, and broader economic conditions. As Solana's price trends upward, stakeholders are keenly observing how these elements will impact future price movements. The current performance of SOL underscores the importance of staying informed and adaptable in the ever-evolving landscape of digital currencies.