Solana Eyes Renewed Rally as Protocol Upgrade Boosts Confidence

Solana (SOL) has shown resilience in recent trading, gaining 3% on May 20, 2025, after recovering from a 6% drop the previous day. The cryptocurrency found strong support above $165, maintaining its consolidation within the $160-$180 range—a critical zone that previously catalyzed a rally toward $260. Analysts are optimistic about SOL’s potential for renewed momentum, especially following a major consensus protocol upgrade announced by Anza, a Solana-focused research firm. This development aligns with the network’s growing adoption and could serve as a bullish catalyst for future price appreciation. Currently trading at $167.71 (USDT), Solana remains a key altcoin to watch as market participants assess its next move.

Solana Gains 3% as Bulls Target Renewed Momentum Amid Protocol Upgrade

Solana’s price climbed 3% during early U.S. trading on May 20, 2025, recovering from a 6% drop the previous day. The altcoin found support above $165 after briefly dipping below $170, maintaining its consolidation within the $160-$180 range that previously fueled a rally toward $260.

Anza, a Solana-focused research firm, unveiled a major consensus protocol change, coinciding with the network’s growing adoption. Total value locked across solana protocols has surged from April’s $7 billion low to over $10 billion, signaling renewed institutional confidence.

Argentina Shutters LIBRA Probe Unit After Findings Shared With Prosecutors

Argentine President Javier Milei has disbanded the investigative unit examining his alleged connections to the SOL-based memecoin LIBRA. The Unidad de Tareas de Investigación (UTI) was dissolved by presidential decree after submitting findings to prosecutors, with Justice Minister Mariano Cúneo Libarona declaring its mission complete.

The probe involved multiple government agencies including Argentina’s central bank and anti-corruption office. Market volatility spiked in February when Milei tweeted about LIBRA, sending its valuation soaring to $4.5 billion before an 80% collapse within hours. The token’s co-creator Hayden Davies had previously made unverified claims about presidential endorsement.

SEC Delays Approval of Solana ETFs Amid Market Manipulation Concerns

The U.S. Securities and Exchange Commission has paused its review of Solana-based exchange-traded fund proposals from Bitwise and 21Shares, citing unresolved concerns about market integrity and investor safeguards. The regulatory delay comes despite growing institutional interest in the cryptocurrency.

Solana’s market performance appears largely unfazed by the setback, with its price maintaining upward momentum. The SEC’s heightened scrutiny reflects broader tensions between crypto innovation and traditional securities compliance frameworks.

Beer 2.0: Solana’s New Meme Coin Brewing Community and Utility

Beer 2.0 emerges as more than a nostalgic tribute to its predecessor, beercoin, which once surged 35x. This Solana-based meme coin blends viral culture with tangible utility, aiming to transform fleeting HYPE into lasting value.

Within 48 hours of its presale announcement, significant interest has already materialized, signaling strong early traction. The project seeks to evolve beyond pure meme status by integrating real-world use cases, though specifics remain undisclosed.

Where beercoin demonstrated the power of community-driven growth, Beer 2.0 attempts to balance humor with substance—a challenging alchemy in the volatile meme coin market.