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According to PANews, a recent report by Standard Chartered suggests that the Layer 1 blockchain Solana may be evolving into a platform primarily focused on generating and trading meme coins. The report, dated May 27, highlights Solana's dominance in the high-volume, low-cost public blockchain sector, attributed to its fast and low-cost transaction confirmation architecture. However, this technical advantage has led to an unexpected consequence: a significant portion of Solana's activity, measured by application revenue or 'GDP,' is concentrated on meme coin trading.Standard Chartered notes that the meme coin craze has served as a stress test for Solana's scalability, but the volatility and speculative nature of these assets pose challenges. With a decline in meme coin trading volume, the bank warns that Solana may struggle to maintain its growth momentum.The report indicates that the meme coin frenzy on Solana has peaked, and the combination of declining usage and 'cheap' transactions is not ideal. The bank suggests that Solana should expand into other areas requiring high-volume, low-cost transaction processing, such as financial settlements, decentralized cloud computing, or real-time data exchange. These emerging fields align well with Solana's high throughput characteristics.Standard Chartered's report also mentions that these areas could include high-throughput financial applications and traditional consumer applications like social media. However, the bank cautions that scaling such applications could take years, potentially impacting Solana's market competitiveness, developer ecosystem, and platform reputation if progress falls short of expectations. This could lead to significant valuation pressure.The report predicts that Solana's performance will lag behind Ethereum over the next two to three years before catching up, at least in terms of intrinsic value.Solana has long positioned itself as a fast, low-cost Layer 1 public blockchain supporting smart contracts, directly competing with Ethereum. However, this advantage may be diminishing. Since Ethereum's Dencun network upgrade in March 2024, Layer 2 platforms have surpassed Solana in average transaction costs. This shift challenges Solana's value proposition as the 'cheapest high-throughput blockchain.' Standard Chartered points out that Ethereum's modular design, which layers data availability, execution, and consensus, allows for more efficient scaling while maintaining decentralization: 'The modular approach enables Ethereum to scale transaction processing at low cost (post-Dencun upgrade) while preserving the security advantages of a highly decentralized mainnet.'

According to BlockBeats, on-chain data analyst Murphy, referencing Glassnode data, reported a substantial decrease in SOL balances on centralized exchanges. Since early March this year, the SOL holdings have declined from 37.22 million to 27.01 million, marking a 27.4% reduction. This decrease brings the balance close to the lowest point observed in October 2022.

According to PANews, data monitored by crypto influencer wale.moca indicates that Raydium continues to hold a significant position in Solana's decentralized exchange (DEX) market. Raydium accounts for over 50% of the DEX trading volume, surpassing the combined trading volume of the next four exchanges. Additionally, the total amount of token buybacks generated through fees has reached $186 million, with $83 million accumulated since the beginning of this year.

According to Foresight News, data from Glassnode indicates that SOL is currently the only cryptocurrency among the top ten digital assets, excluding stablecoins, with a negative funding rate. The rate stands at -0.0002%, which is relatively minor but may suggest the early formation of bearish pressure.

Key Takeaways:Solana is forming a bull flag with a $260 breakout target.$180 resistance is the critical level to watch — without volume, the move may fail.Fractals and hidden divergences point to even higher targets ($260–$450).Failure to flip $180 may push SOL back to $140–$150 support.Solana Price Eyes Breakout as Bull Flag Fractal Predicts $260 SurgeSolana (SOL) is flashing bullish signals on the daily chart, but analysts agree that one key level — $180 — must flip to support before a breakout to $260 becomes viable.Currently trading around $182.93, SOL is testing overhead resistance for the second consecutive week. As Bitcoin (BTC) trades near its all-time high of $110,857, traders are betting on a potential capital rotation into altcoins, with Solana as a top candidate.Technical Setup: Bull Flag in FocusSolana’s price structure is forming a classic bull flag pattern, often seen as a continuation signal in strong uptrends. Here’s how the current chart breaks down:Current Price: $182.93Immediate Resistance: $180 (needs a daily close above)Short-Term Targets: $200 and $220Bull Flag Target: $260RSI: 64.3 — bullish, but not overboughtHowever, analysts are urging caution: trading volume has decreased during this consolidation phase, which may stall a breakout without renewed buying pressure.What Analysts Say: Fractals, Divergences, and Key ZonesPrice Fractal Points to $260Crypto trader Robert Mercer compared Solana’s current setup to the October 2024 breakout, when SOL surged past $180 and rallied to $260. He sees a similar fractal forming now, suggesting a breakout could repeat the pattern.Hidden Bullish Divergence Could Target $450Technical analyst Javon Marks highlighted a hidden bullish divergence on the 3-day chart — the same setup that triggered a 1,332% rally in 2024. If confirmed again, Marks sees a potential upside to $450 in 2025.Trader Sentiment: Wait for ConfirmationPopular trader XO is watching the $180 level closely. He advises waiting until SOL flips $180 into confirmed support before opening a long position.What Could Invalidate the Bullish Scenario?If Solana fails to decisively break above $180, analysts warn of a potential pullback to the $140–$150 range — a daily order block expected to offer higher-timeframe support. A breakdown here would invalidate the bull flag structure and delay the bullish continuation.

According to Foresight News, Phoenix reports that Canary has submitted an updated version of its spot Solana ETF S-1 application.

Solana (SOL) is showing renewed strength, currently trading at $167.89 after rising from an intraday low of $164.64 to a high of $171.65. The price action reflects growing demand for SOL amid strong DeFi activity, institutional accumulation, and technical breakout patterns, despite brief corrections in recent sessions.Solana Holds Bullish Structure Amid VolatilityAfter surging over 6% from a previous low of $159.69, Solana now consolidates near $168 following a series of higher lows and higher highs that broke key resistance levels around $166.87. This pattern signals a bullish reversal, supported by increasing trading volume and on-chain strength.Updated Technical Analysis Highlights:Current Price: $167.89Intraday Range: $164.64 – $171.65Resistance Level: $172.00Support Level: $162.00Price previously climbed from $159.69 to $173.03, gaining 8.35% during that move.Above-average volume concentrated in the $167–$170 range, indicating strong buyer activity.Notable support was found at $160.34, where large-volume buyers stepped in early in the session.A brief 1.35% correction occurred recently, with the price falling from $172.19 to $169.87 before rebounding.Final trading sessions show diminishing volatility and selling pressure, signaling potential exhaustion on the downside.DeFi Demand and Treasury Buys Fuel UptrendThe recent rally in SOL follows surging on-chain decentralized exchange (DEX) volume, which hit $35.6 billion in weekly turnover, reinforcing Solana's growing role in DeFi ecosystems. In addition, a $24 million treasury acquisition by DeFi Development has further catalyzed bullish sentiment and price momentum.This strong capital influx suggests long-term investor confidence in the Solana ecosystem, with demand for its high-throughput blockchain infrastructure rising amid market-wide risk-on behavior.Broader Macro Context Adds FuelSolana's surge is happening amid increased market volatility driven by geopolitical tensions and trade uncertainty among major global economies. These macro conditions have led to heightened correlation between crypto markets and traditional financial instruments, with Solana standing out among leading altcoins.Key Levels and What Comes NextAnalysts now identify the $166.82 level as a short-term pivot, with $172–$177 seen as the next resistance zone to watch. A sustained breakout above these levels could push SOL toward $184, aligning with broader altcoin rotation cycles.With institutional accumulation evident in the volume data and DeFi activity accelerating on-chain, Solana’s current consolidation phase may precede another upward leg—if the $170 psychological level can be reclaimed and held.

According to Foresight News, on May 19, Anza, a developer studio spun off from Solana Labs, introduced a new consensus layer protocol for Solana named Alpenglow. This protocol modifies the existing TowerBFT and PoH consensus mechanisms by incorporating new components, Votor and Rotor, to handle voting and block finality, and to enhance Solana's current block propagation protocol. Built on Turbine, Solana's version of sharding, it optimizes bandwidth usage through a single-layer relay node based on stake. Roger Wattenhover, Anza's Head of Research, stated at Solana Accelerate that the new consensus mechanism will significantly reduce transaction finality time from the current 12.8 seconds to 150 milliseconds. Alpenglow has completed prototype testing and is expected to deploy on the testnet by mid-2025, with mainnet deployment anticipated later in the year following approval through Solana Improvement Documents (SIMD). Compared to the current Solana mainnet, Alpenglow simplifies architecture and optimizes data propagation efficiency, making it suitable for high-frequency trading and real-time payments. Votor, a core component of Alpenglow, will replace TowerBFT by handling consensus logic. It operates through direct communication rather than the current node gossip model, using peer-to-peer communication and dynamic grouping strategies based on stake weight or geographical location. This reduces redundant message transmission and network latency. Votor introduces a tiered stake voting mechanism: if a block receives over 80% stake support in the first round, it is notarized immediately; if support is between 60% and 80%, a second round of rapid confirmation is initiated. Nodes can skip voting if block delay or risk is detected, preventing resource wastage. Overall, when the validator threshold is below 60%, latency can be controlled to around 100 milliseconds. Rotor focuses on improving block propagation efficiency and network resource allocation by integrating Turbine sharding technology. It replaces the traditional multi-layer relay model with a single-layer relay node architecture, splitting block data into lightweight shards and dynamically optimizing transmission paths, significantly reducing network complexity and transmission delay. Rotor also introduces an adaptive propagation algorithm that monitors network status in real-time and switches congested paths, combining lightweight data verification to reduce computational overhead, greatly enhancing propagation speed and fault tolerance. Performance-wise, Rotor compresses block propagation delay to milliseconds, supporting Solana's goal of achieving 50,000 TPS, meeting the demands of DeFi clearing and real-time payment scenarios. Overall, the Alpenglow protocol removes the PoH mechanism, reducing chain-wide operational risk and simplifying architecture. By replacing Tower BFT consensus with Votor and using stake-driven 1-2 round voting, it achieves block finality within 100-150 milliseconds without relying on optimistic confirmation. Rotor optimizes Turbine sharding with a single-layer relay system, enhancing propagation efficiency to the physical network latency limit, with the main bottleneck being underlying network transmission speed. The system's resilience is significantly enhanced, capable of withstanding 20% malicious nodes and 20% stake offline scenarios, improving attack resistance and fault tolerance. Ultimately, Alpenglow compresses transaction finality to milliseconds, providing foundational support for high-frequency trading, real-time payments, and large-scale on-chain applications.

According to BlockBeats, recent data from Nansen reveals that Solana has emerged as the leading blockchain in terms of active addresses over the past week. Solana recorded approximately 30.6 million active addresses, significantly outpacing its competitors. Following Solana, Base secured the second position with 9.4 million active addresses, while BNB Chain ranked third with 7.7 million. This data highlights the growing engagement and activity across these blockchain networks.

According to PANews, Whale Alert reported that at 19:39 UTC+8 today, the USDC Treasury minted an additional 250 million USDC on the Solana blockchain. This development highlights ongoing activities within the cryptocurrency sector, particularly concerning stablecoin issuance and blockchain utilization.

According to BlockBeats, Jon Charbonneau, co-founder of DBA, released a data analysis indicating that both Ethereum and Solana reached their highest network revenues when their prices hit historical peaks. The analysis reveals that the annualized revenue multiples at these peak times were approximately equal, around 26.5 times. Ethereum's price peak occurred in November 2021, with monthly network revenue reaching approximately $1.83 billion, translating to an annualized network revenue of about $219 billion. At that time, Ethereum's fully diluted valuation (FDV) was $578.71 billion, resulting in a valuation multiple of 26.42 times. Solana's price peak was in January 2025, with monthly network revenue around $550 million, equating to an annualized network revenue of approximately $6.61 billion. Solana's FDV was $177 billion, leading to a valuation multiple of 26.77 times.

According to BlockBeats, OnchainLens monitoring has revealed that a newly created wallet address has withdrawn 296,422 SOL tokens from FalconX, valued at $50.82 million. The tokens have been sent for staking purposes.

According to Foresight News, data from Cryptopolitan reveals that Solana generated $7.9 million in revenue on May 13, surpassing the combined total of all Layer 1 and Layer 2 blockchains. This figure is three times that of Ethereum, eleven times that of Bitcoin, and thirty-five times that of Base. Solana also accounted for 51.6% of the weekly blockchain revenue, with decentralized application (DApp) transaction volume reaching $1.6 billion, ranking it first among its peers.

According to PANews, recent data from Glassnode, reported by CoinDesk, indicates that Solana's 30-day realized market capitalization has returned to positive growth, with an annualized rate of 4–5%. This marks the first positive inflow after several weeks of outflows, suggesting a potential return of buying pressure. Although Solana's price has not yet significantly rebounded, this metric is often seen as a precursor to a potential market reversal, indicating that the market may have completed a phase of 'capitulation-style' clearing.

According to BlockBeats, data from DefiLlama reveals that Solana's network decentralized exchange (DEX) trading volume reached $45.71 billion in the past 24 hours, ranking first globally. Additionally, over the past week, Solana's DEX trading volume totaled $275.15 billion, marking a 48% increase.The top three DEX protocols within the Solana ecosystem are Raydium, Meteora, and Orca, contributing significantly to this impressive performance.

According to PANews, Pine Analytics has released a report highlighting a significant shift in Solana's DeFi ecosystem from public, passive liquidity pools to private execution decentralized exchanges (DEXs). New DEXs such as SolFi, Obric v2, and ZeroFi, despite lacking front-end interfaces, are handling 40-65% of on-chain transaction volume through the Jupiter aggregator. These DEXs employ four core design principles: executing trades exclusively through the Jupiter aggregator, utilizing real-time oracle-based pricing, using private funds instead of public liquidity pools, and offering selective quotes based on inventory. This model effectively mitigates MEV attacks and toxic order flows, showing notable advantages in major trading pairs like SOL and stablecoins. Solana's current architecture, characterized by a single leader and MEV auctions, places public quotes at a disadvantage. However, upcoming upgrades, such as concurrent leaders, may alter this scenario. While the private market-making model enhances execution efficiency, it also reduces the openness and composability of DeFi. This evolution reflects Solana's ecosystem gradually developing a unique liquidity supply method that aligns with its technical architecture.

According to Odaily, Eugene Ng Ah Sio shared on his personal channel that he has purchased SOL at a price of $169, expressing confidence in its potential. He stated that SOL remains the best proxy indicator for assessing risk appetite in the altcoin market. Ng Ah Sio believes that once Bitcoin surpasses key resistance levels, SOL will be among the first assets anticipated to reach new highs.

According to BlockBeats On-chain Detection, recent data from Nansen reveals that Solana has the highest number of active addresses among public blockchains over the past week, with 24.26 million. Following Solana, BNB Chain had 7.512 million, Tron reached 5.863 million, and Aptos reported 4.241 million active addresses.

According to BlockBeats, Alameda Research recently unstaked 187,625 SOL, valued at approximately $32.2 million. This transaction was detected by The Data Nerd around nine hours ago. The move comes amid ongoing developments in the cryptocurrency market, highlighting the dynamic nature of digital asset management.