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Solana’s Market Struggles: Resistance at $150 and Network Weakness Signal Potential Pullback

Solana’s Market Struggles: Resistance at $150 and Network Weakness Signal Potential Pullback

Author:
SOL News
Published:
2025-05-08 13:17:20
20
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Solana’s recent price action has shown signs of weakness after failing to break through the $150 resistance level. With broader market uncertainty looming due to the Federal Reserve’s upcoming interest rate decision, traders are closely monitoring Solana’s on-chain metrics, which indicate declining network activity and potential capital rotation. This article explores the factors behind Solana’s recent rejection at $150, the $7 million in liquidations triggered by the pullback, and what it could mean for the cryptocurrency’s near-term price trajectory.

Solana Faces On-Chain Weakness After $150 Rejection: Is a Price Pullback Ahead?

Solana’s recent price action reflects broader market uncertainty as traders await the Federal Reserve’s interest rate decision. The cryptocurrency briefly approached $150 before encountering strong resistance, triggering a cascade of liquidations totaling over $7 million in 24 hours.

Network activity metrics show concerning declines, suggesting investors are rotating capital elsewhere. Market analysts note the Fed’s potential rate cuts could alleviate selling pressure, but solana must first stabilize its on-chain fundamentals.

Robinhood Explores Tokenized U.S. Stocks for EU Users via Solana and Arbitrum

Robinhood is advancing plans to tokenize U.S. stocks for European investors, leveraging Solana and Arbitrum for the underlying infrastructure. The initiative aims to democratize access to Wall Street assets, bridging the gap for EU-based users. A partnership with a crypto-native firm is underway, though the final blockchain selection remains pending.

CEO Vlad Tenev frames the MOVE as a strategic play to reinforce U.S. market dominance. "Right now, it’s very difficult to invest in a U.S. company if you’re overseas," he noted. The effort builds on Robinhood’s recent regulatory progress, including a Lithuanian brokerage license.

‘Pahalgam’ and ‘Operation Sindoor’ Crypto Tokens Surface Online Amid Security Warnings

New cryptocurrency tokens named ’Pahalgam’ and ’Operation Sindoor’ have emerged on platforms including the Solana blockchain, raising red flags among security analysts. Both tokens lack fundamental safeguards: no verified on-chain data, absent audits, and anonymous development teams. These omissions suggest potential rug pulls or deceptive schemes targeting inexperienced investors.

The projects’ nomenclature amplifies concerns. ’Operation Sindoor’ directly references a sensitive Indian military operation in Kashmir, while ’Pahalgam’ ties to a recent terrorist attack in the region. This exploitation of geopolitical trauma for financial gain demonstrates a disturbing trend in meme coin culture.

Pump.fun Token Fraud Epidemic: 98% of Solana-Launched Tokens Deemed Scams

A damning report by blockchain analytics firm Solidus Labs exposes rampant fraud on Solana-based token launchpad Pump.fun. Nearly 99% of the platform’s 7 million minted tokens since January 2024 qualify as rug pulls or pump-and-dump schemes, with only 97,000 maintaining minimal liquidity thresholds.

The platform’s low-cost token creation mechanism has become a honeypot for bad actors, culminating in a $1.9 million heist tied to MToken. This revelation underscores persistent security vulnerabilities in decentralized finance, even as the industry attempts to distance itself from the specter of FTX’s collapse.

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