Decentral Block Post

USD1, the US dollar stablecoin launched by the President Donald Trump-backed World Liberty Financial (WLFI), has become the seventh-largest stablecoin worldwide in just two months since its launch.

WLFI’s snapshot vote for a USD1 airdrop proposal is underway, and USD1’s market capitalization has continued to climb.

Launched in early March with a $3.5 million supply, USD1 has expanded into a market cap of $2.2 billion at the time of writing, leaving rival stablecoins First Digital USD (FDUSD), PayPal USD (PYUSD) and Tether Gold (XAUT) behind, according to data from CoinGecko.

Top 10 stablecoins by market capitalization. Source: CoinGecko

Although rising fast, the USD1 market cap is still far from the market value of major stablecoins like Tether’s USDt (USDT) and USDC (USDC), whose market caps are worth $149 billion and $61 billion, respectively.

BNB Chain drives USD1 issuance

Trump-backed USD1 is almost exclusively issued on Binance-backed BNB Chain. According to data from BscScan, as much as $2.1 billion of all USD1 supply is issued on BNB Chain, accounting for more than 99% of its total circulating supply, while an Ethereum-based version accounts for just $14.5 million, according to Etherscan.

Cryptocurrency miner Diversified Energy quietly vacated a natural gas-powered crypto mining site in Elk County, Pennsylvania, reportedly leaving behind unplugged wells and regulatory violations.

The site, known as Longhorn Pad A, was revived in 2022 after sitting dormant for nearly a decade when Diversified began using it to fuel on-site generators powering cryptocurrency mining computers, according to a report by the Erie Times-News.

Per the report, the operation was launched without obtaining an air quality permit from the Pennsylvania Department of Environmental Protection (DEP).

Though the company was later granted the permit in December 2023, a March 2025 inspection revealed that Diversified had already removed the mining infrastructure.

Empty metallic sheds and missing production equipment led the DEP to issue a formal violation notice for well abandonment. Diversified reportedly denied that the site was abandoned, saying that it may resume gas production.

Bitcoin holders are becoming more comfortable borrowing against their crypto as market confidence grows, according to Seamus Rocca, CEO of the Gibraltar-based private bank, Xapo Bank. 

In an interview at the Token2049 event in Dubai, Rocca told Cointelegraph that with Bitcoin (BTC) hovering around $95,000 and institutional adoption starting to catch on, the mood among investors has shifted from short-term speculation to a more long-term outlook. 

“I’m not sure that confidence would have been there three or four years ago,” Rocca told Cointelegraph. “But today, people are more comfortable to borrow against Bitcoin because we’re nowhere near the levels that would trigger liquidation.”

On March 18, Xapo Bank launched a lending product that allows users to borrow US dollars using their Bitcoin as collateral. With the product, qualified clients can access up to $1 million in loans while keeping their BTC.

Xapo Bank CEO Seamus Rocca at the Token2049 media lounge. Source: Cointelegraph

Bitcoin-backed loans are an “obvious” next step

Rocca told Cointelegraph that growing confidence in crypto’s long-term trajectory had fueled demand for the product. This has been driven by developments leading to broader institutional adoption. 

Several crypto-focused organizations — including Bitcoin (BTC) mining companies — are eyeing a US return, primarily driven by uncertain geopolitical tensions. Still, BTC miner Hive Digital Technologies is doubling down on the untapped potential of the Latin American (LATAM) market.

In an exclusive interview with Cointelegraph, Hive Digital Technologies’ president and CEO, Aydin Kilic, said that Paraguay presents a compelling long-term opportunity equipped with “geopolitical stability, low-cost hydro energy, and a government open to foreign investment”.

Picking up from where Bitfarms left off

Hive acquired Bitfarms’ 200 megawatt (MW) Yguazú facility for $56 million in January. Phase one infrastructure of a 100 MW data center at the site was completed in April, supporting five exahashes per second (EH/s) of application-specific integrated circuit (ASIC) mining.

Hive plans to expand to 300 MW of mining facilities in Paraguay in 2025. It aims to increase its hashrate to 25 EH/s by September.

Related: Bitfarms sells Paraguay site to Hive for $85M, refocuses on US

Key takeaways:

Inter Milan Fan Token jumped 10.5% after beating Barcelona, showing a direct price correlation with match outcomes.

PSG and AFC fan tokens signal breakout patterns ahead of the Champions League semifinal.

Crypto betting odds favor PSG over Inter Milan, influencing fan token trading volumes and short-term price setups.

The Inter Milan Fan Token ($INTER) rallied sharply after Inter Milan’s 4-3 victory over Barcelona FC in the Champions League semifinal on May 6, rising nearly 10.50% on match day and maintaining gains at $1.19 as of May 7.

Ethereum — the network that unleashed smart contracts on the world — moves on to the next chapter with today’s Pectra upgrade, but what does it mean?

Pectra went live on the Ethereum mainnet at the start of epoch 364032, May 7, 2025, at about 10:00 am UTC. The three main Ethereum improvement proposals (EIPs) included are EIP-7702, EIP-7251 and EIP-7691.

Source: Ethereum.org

EIP-7702 allows externally owned accounts to act as smart contracts and cover gas expenses (transaction fees) and payments in tokens that are not Ether (ETH). EIP-7251 increases the validator staking limit from 32 ETH to 2,048 ETH, which makes operations for large stakers easier and simpler.

Finally, EIP-7691 increases the number of data blobs per block, which allows for better layer-2 scalability and potentially significantly reduces transaction fees. Sergej Kunz, co-founder of Ethereum decentralized exchange (DEX) aggregator 1inch, said Pectra “introduces ‘smart account’ functionality” at deeper protocol levels and “improves Ethereum’s scalability” through layer-2 solutions.

Related: Ethereum to simplify crosschain transactions with new token standards

Bhutan, known for investments in cryptocurrencies like Bitcoin, has launched a tourism crypto payment system in partnership with Binance Pay and DK Bank.

The system allows Bhutan travelers with Binance accounts to pay for services like tickets, hotel stays, tour guides and other products using at least 100 different crypto assets, including Bitcoin (BTC), USDC (USDC) and Binance-backed BNB (BNB).

The initiative also opens a payment gateway for businesses in Bhutan, enabling them to accept crypto payments through a QR code on a phone, according to an announcement by Binance on May 7.

“This is more than a payment solution — it’s a commitment to innovation, inclusion, and convenience,” said Damcho Rinzin, director of Bhutan’s tourism department.

Benefits for small businesses in remote areas

The partnership specifically targets small businesses in Bhutan, such as vendors and rural artisans who may never have had access to card terminals or payment infrastructure.

Despite the $1.4 billion lost in the recent Bybit hack, crypto companies have not changed their approach to cybersecurity, according to Hacken CEO Dyma Budorin. 

In an interview with Cointelegraph at the Token2049 event in Dubai, Budorin said the industry continues to rely on limited measures such as bug bounties and penetration tests, rather than implementing comprehensive, layered security strategies:

“Most of the projects think, ‘Okay, we did pentests. That’s enough. Maybe bug bounty. That’s enough.’ It’s not enough.”

He said that crypto companies must go beyond these isolated security measures and adopt more layered approaches similar to those of traditional industries. These include supply-chain security, operational security and blockchain-specific security assessments. 

“In big Web2 companies, this is mandatory,” Budorin added. 

Dyma Budorin at the Token2049 event in Dubai. Source: Cointelegraph

Real-time blacklisting, a step forward

While crypto security approaches remained the same, post-hack security approaches shifted slightly. Budorin told Cointelegraph there were some improvements in the crypto space’s post-hack security responses. 

Tether deployed its flagship stablecoin, USDt, on the Kaia blockchain as part of a broader collaboration with Line Next, the Web3 arm of Line, Japan’s popular messaging platform with more than 196 million monthly active users.

The integration means USDt (USDT) will now be supported across Line’s messenger-based Mini DApp ecosystem and self-custodial wallet, enabling users to interact with stablecoins inside an interface they already use daily, Tether said in a May 7 announcement.

Line users will be able to use USDt for in-app payments, cross-border transfers and decentralized finance (DeFi) activities.

“Through LINE NEXT’s blockchain infrastructure, over 200 million LINE users will now have a straightforward way to engage with digital assets in everyday life,” Tether CEO Paolo Ardoino said, adding:

“Tether’s expansion to Kaia underscores its commitment to fostering stablecoin adoption across Asia and beyond.”Source: Tether

Related: Tether AI platform to support Bitcoin and USDT payments, CEO says

Key points:

Bitcoin and gold trade in lockstep on low timeframes as macro volatility triggers heighten.

The Federal Reserve interest rate decision and news conference are just hours away.

Market sentiment for rate cuts in 2025 decreases sharply ahead of the FOMC meeting.

Bitcoin (BTC) saw a flash short-term trend change on May 7 as geopolitical triggers gave risk assets fresh volatility.

Japan’s Metaplanet purchased an additional 555 Bitcoin as part of its aggressive accumulation strategy, bringing its total holdings to 5,555 BTC, valued at over $536 million at current prices.

On May 7, the Tokyo-listed firm disclosed that it spent $53.4 million acquiring 555 Bitcoin (BTC) at an average price of $96,134. The company now holds 5,555 BTC, purchased for $481.5 million at an average price of $86,672 per Bitcoin, according to CEO Simon Gerovich.

The company also announced the issuance of another $25 million in zero-coupon ordinary bonds to fund its ongoing BTC buys. Since early 2024, the firm has raised over 35 billion yen ($244 million) through zero-coupon bonds and stock acquisition rights via its partner, Evo Fund.

The company’s proprietary key performance indicator, BTC Yield, has surged in recent quarters, reaching 309.8% in Q4 2024, 95.6% in Q1 2025, and 21% in the current quarter.

“In Japanese, the number 5 is pronounced “Go,” so today we’re shouting: Go go go go — to the moon and beyond!” Gerovich said in a post on X.

Movement Labs confirmed the termination of its co-founder, Rushi Manche, following controversy over a market maker deal that he brokered.

Movement Labs made the announcement in a May 7 X post, stating it had “terminated Rushi Manche.” The project said it “will continue under a different leadership.” The post also alludes to upcoming governance changes.

The termination follows Movement Labs announcing Manche’s suspension earlier this month, explaining that the “decision was made in light of ongoing events.” It also comes after Coinbase’s recent decision to suspend the Movement Network (MOVE) token, citing its failure to meet its listing standards.

Source: Movement

Related: Movement Network to buy back tokens with $38M recovered from rogue market maker

Movement Labs launches Move Industries

In addition to terminating Manche, Movement Labs announced the launch of Move Industries, with former Movement Labs employees Torab Torabi as the firm’s CEO and Will Gaines as its chief marketing officer. “In light of recent news, we needed a clean break. Movement started with the community and our builders,“ the announcement stated.

A hacker involved in the $4.67 million exploit of the decentralized finance lending protocol Voltage Finance in 2022 has moved some of the stolen Ether to Tornado Cash after a short hibernation. 

Blockchain security firm CertiK said in a May 6 post to X that the 100 Ether (ETH), worth $182,783 at current prices, was moved from a different address initially used in the exploit but can be traced back to the hacker.  

In March 2022, the exploiter took advantage of a “built-in callback function” in the ERC677 token standard and allowed them to drain the platform’s lending pool through a reentrancy attack, according to CertiK.

Source: CertiK

After the exploit, Voltage Finance reported that the hacker stole various stablecoins and other crypto, including USDC (USDC), Binance USD (BUSD), wrapped Bitcoin (WBTC), and Ethereum tokens. 

The address used by the hacker to get the funds to Tornado Cash had been dormant since November, with the last transaction occurring 166 days ago, Etherscan data shows.

Key takeaways:

Large Bitcoin holders have accumulated 81,338 BTC over the past six weeks, showing confidence in a future price uptrend.

Wallets with less than 0.1 BTC sold around 290 BTC, indicating smaller retail investors are either panic selling or selling out of boredom. 

Spot Bitcoin ETFs have seen $4.41 billion in inflows since March 26.

While larger Bitcoin holders remain confident and continue accumulating the asset, data from a crypto analytics platform shows that smaller retail investors have been shedding BTC amid the asset’s prolonged consolidation below the $100,000 price level.

Investors have been piling into BlackRock’s spot Bitcoin exchange-traded fund for over three weeks straight, culminating in the asset’s run up to $97,000 on May 7.

The BlackRock iShares Bitcoin Trust has seen 16 days of inflows for the spot BTC ETF, with a further 280 Bitcoin (BTC) or around $36 million piling into the fund on May 6, according to HODL15Capital.  

The inflow streak was noted by ETF Store President Nate Geraci, who also observed on X that the fund was approaching $5 billion in new capital. 

“I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year,” he added. 

“IBIT alone has done this in a few weeks, more than a year after launch.”

The BlackRock fund (IBIT) has seen around $4.7 billion in inflows since its last outflow day on April 9.

South Korea’s Democratic Party leader Lee Jae-myung has reportedly become the latest presidential candidate to promise the approval of spot crypto exchange-traded funds (ETFs) and other crypto-friendly measures, should he be elected.

Lee announced his crypto promises on May 6 as part of a broader initiative to provide more investment opportunities for Korea’s youth, one of the main target demographics for the fast-approaching June 3 election.

“I will create a safe investment environment so that young people can [build] assets and plan for the future,” The Korea Economic Daily (KED) quoted Lee as saying in Korean.

He also promised the legalization of spot crypto ETFs, lower transaction fees, and more consumer protection measures.

Lee’s Democratic Party of Korea is the favorite to win the presidential election with 42% support, according to a survey conducted by Korea’s National Barometer Survey between April 24 and 30. Korea’s acting president, Han Duck-soo, came in second at 13%.

Trump family-backed crypto platform World Liberty Financial (WLFI) is proposing to airdrop a small amount of its new US dollar-pegged stablecoin to reward early WLFI holders in a test of its airdrop mechanism.

With over 99% of votes in favor of the proposal already, the airdrop will distribute a small amount of USD1 to eligible holders of the WLFI token, according to the May 6 proposal in the WLFI governance forum.

“Testing the airdrop mechanism in a live setting is a necessary step to ensure smart contract functionality and readiness. This distribution also serves as a meaningful way to thank our earliest supporters and introduce them to USD1,” the proposal states. 

“This will allow World Liberty Financial to validate the technical functionality of its airdrop system in a live environment while thanking early supporters of the project.”

Source: World Liberty Financial
’

The amount of USD1 is still to be determined but will be based on the total eligible wallets and budget, according to the proposal.

Coinbase has introduced a new payments protocol for online payments that enables stablecoin transfers over standard internet protocols and AI agents to transact autonomously.  

On May 6, Coinbase announced that it is launching a protocol called x402 for instant stablecoin payments directly over the internet communication protocol HTTP (Hypertext Transfer Protocol).

It allows Application Programming Interface (APIs), apps, and AI agents to transact seamlessly, “unlocking a faster, automated internet economy,” the firm stated. 

Coinbase said that x402 “is fixing the internet’s first mistake.” The protocol resurrects the experimental HTTP 402 “Payment Required” status code to create a seamless payment system native to the internet.

The firm noted that traditional payment rails, such as credit cards, bank transfers and subscriptions, “were built for a pre-internet world.” 

Key takeaways:

Bitcoin must maintain above $95,000 to have a chance at retesting its $109,000 all-time high; failure to hold could lead to a deeper correction, crypto analysts warn.

Several crypto analysts told Cointelegraph in March that Bitcoin may have a chance of reaching new all-time highs in June.

The upcoming Federal Reserve decision on May 7 could influence Bitcoin’s price movement over the coming days.

Bitcoin needs to continue to hold above the $95,000 level for a chance to climb back and retest its all-time high, or face an even deeper correction, crypto analysts say.

Members of the crypto community are circulating apparent “proof” that Zerebro developer Jeffy Yu faked his suicide as he promoted his new memecoin during a Pump.fun livestream on May 4.

The belief appears to come from an unverified private letter supposedly sent by Yu to a Zerebro investor, trading activity linked to crypto wallets owned by Yu, and the removal of his obituary from Legacy.com.

Others speculate that Yu used a tool to pass off a pre-edited video as if it were filmed in real-time during the Pump.fun livestream.

Source: Hash

The unverified letter from Yu to an early investor states that he deliberately created a livestream pretending to shoot himself as it was the only “viable exit” from persistent harassment, blackmail, threats and hate crimes.

“Being fully doxxed has placed me under constant fear of robbery and physical harm. There have been numerous notable figures in the crypto community which have undergone armed robberies in their homes recently.”

US Democrat lawmakers have launched a multi-angle attack on President Donald Trump’s crypto ventures with two bills and a subcommittee inquiry aimed at cutting his ability to profit from the initiatives.   

The Modern Emoluments and Malfeasance Enforcement Act, or the MEME Act, aims to prevent federal officials from using their position to profit from memecoins, Democrat Senator Chris Murphy said in a May 6 statement. 

If passed, the MEME Act prohibits the president, vice president, members of Congress, senior executive branch officials, their spouses and children from issuing, sponsoring, or promoting a security, future, commodity, or digital asset, according to the bill’s description. 

Today I’m introducing a bill - the MEME Act - to ban a President or Member of Congress from issuing a meme coin.

The Trump Coin is the biggest corruption scandal in the history of the White House. @RepLiccardo and I are determined to put an end to this corruption - for good. pic.twitter.com/nQL9ZfIYYV

— Chris Murphy 🟧 (@ChrisMurphyCT) May 6, 2025

Violators could face civil penalties of up to $250,000 and be required to fork over any profits to the US Treasury. Criminal penalties could also apply, including fines and up to five years behind bars. 

Digital asset manager Bitwise has filed to list a spot Near exchange-traded fund with the US Securities and Exchange Commission, adding to a growing list of altcoins currently vying to win regulatory approval.

The Bitwise Near (NEAR) ETF will track the price movements of the NEAR token, minus expenses, through a traditional brokerage, Bitwise’s May 6 registration statement shows.

Bitwise named Coinbase Custody as the proposed custodian of the Bitwise NEAR ETF. The management fee, ticker and stock exchange it seeks to list on weren’t named yet. 

Source: Cointelegraph

Bitwise must also file a 19b-4 filing with the SEC to kickstart the regulator's approval process for the fund. The crypto native asset manager indicated it would make such a filing when it registered a trust linked to the NEAR ETF in Delaware on April 28.

NEAR joins a pile of spot crypto ETFs on the SEC’s desk

The SEC now has at least a dozen spot crypto ETFs to review in 2025, including applications for Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), XRP (XRP), Cardano (ADA), Hedera (HBAR), Polkadot (DOT), Chainlink (LINK), Avalanche (AVAX), Aptos (APT) and Sui (SUI).

The US Commodity Futures Trading Commission (CFTC) is seeking permission from the court to drop an appeal against prediction market Kalshi. The move could allow the platform to offer political event contracts to users without contest.

In a May 5 filing in the US Court of Appeals for the District of Columbia Circuit, lawyers for the CFTC filed an unopposed motion for voluntary dismissal, suggesting an agreement with Kalshi. The motion, subject to approval by the court, could end the CFTC’s appeal against a federal court ruling that the financial regulator could not bar Kalshi from listing political event contracts, i.e., bets on elections.

Motion to dismiss appeal filed by the CFTC on May 5. Source: Courtlistener

Kalshi stipulated in a joint filing that the company would “bear its own costs, court fees and attorney fees incurred” if the court granted the CFTC’s motion to dismiss. The platform said that “election markets are here to stay” in a May 6 X post following the filing.

The betting platform initially filed a lawsuit against the CFTC in 2023 in response to the regulator ordering Kalshi to stop offering political event contracts. The company won in the lower court, prompting the appeal by the CFTC in September 2024.

Motion to drop the appeal after the change in administration?

The case was handled mainly before the US election and the appointment of acting CFTC chair Caroline Pham under President Donald Trump. CFTC Commissioner Summer Mersinger, nominated by former President Joe Biden, reportedly echoed Kalshi’s sentiment in February, claiming that election prediction markets were “here to stay.”

Tether, the issuer of the world’s largest stablecoin by market cap USDt (USDT), has announced a partnership with Chainalysis that will integrate the company’s compliance and monitoring tools onto Tether’s tokenization platform. The move comes amid expanding oversight across the crypto industry.

Launched in November 2024, the Hadron by Tether platform is designed for institutions, corporations and governments, entities that may be interested in tokenizing real-world assets ranging from financial instruments and real estate to debt and commodities.

The months following the launch have seen increased adoption of real-world asset (RWA) tokenization. According to RWA.xyz, the total RWA market amounts to $22.1 billion, up 10.5% in the past 30 days. There are a total of 100,115 holders of RWA tokens, up 5.6% in the same time frame.

“By integrating Chainalysis directly into the platform, we’re offering institutional-grade transparency, compliance, and risk mitigation without compromising on decentralization or control,” Tether CEO Paolo Ardoino said in a statement.

According to the announcement, Hadron by Tether users will now have risk detection, real-time transaction monitoring, and Know-Your-Transaction (KYT) support. Terms of the deal were not disclosed. Tether raked in $13 billion in profits in 2024, and posted $1 billion in operating profit for Q1 2025.

A group of crypto traders reportedly purchased millions of dollars worth of Melania Trump’s memecoins minutes before she announced the launch on social media.

According to a May 6 Financial Times report, the crypto traders earned roughly $100 million from buying $2.6 million worth of MELANIA tokens before the public launch on Jan. 19. Shortly after Trump announced the memecoin launch on social media, the price surged from roughly $2.00 to $12.95 — a 550% increase. The traders reportedly sold their holdings within 12 hours.

“In total, the 24 accounts bought up 16.7mn of the 200mn total $MELANIA tokens scheduled for sale during the launch period,” the Financial Times reported. “[...] the run of sales that started pre-launch continued. About $900,000 worth of tokens bought by an additional 22 accounts in the 42 seconds after the launch.”

Price of MELANIA token from Jan. 19 to Jan. 28. Source: CoinMarketCap

The memecoin started trading roughly two days after then-president-elect Donald Trump announced the launch of his own TRUMP coin. Both tokens have come under scrutiny from lawmakers, alleging conflicts of interest and corruption due to the potential for bribery and foreign influence.

Memecoin dinner prompts call for impeachment

Much of the scrutiny and criticism from US lawmakers over the memecoins seems to be directed at the president rather than the first lady. After Trump announced some of the top TRUMP tokenholders would be offeried the chance to get access to him at a private dinner and tour, one senator called for his impeachment.

Key Takeaways:

The Fed may pause rates but inject liquidity. Crypto could rally as a recession hedge.

The weak US dollar and gold rally signal a shift to scarce assets.

The US Federal Reserve Open Market Committee (FOMC) interest rate decision on May 7 will be a defining moment for risk-on assets, including cryptocurrencies. While the consensus points to no change in interest rates, Bitcoin (BTC) and altcoins could see gains if the US Treasury is compelled to inject liquidity to stave off an economic recession.

A more accommodative monetary policy could stimulate activity, but the Federal Reserve (Fed) is also contending with a weakening US dollar. Some analysts argue that a US interest rate cut may fail to stimulate growth as recession risks persist, potentially creating an ideal environment for alternative hedge assets such as cryptocurrencies.

21Shares has launched an exchange traded product (ETP) in Europe, providing investors with exposure to Crypto.com’s Cronos token, the asset manager said. 

The ETP is listed on Euronext’s Paris and Amsterdam exchanges, 21Shares said in a May 6 announcement. 

Cronos (CRO) is a layer-1 blockchain network affiliated with Crypto.com, a centralized exchange. 

The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support “decentralised finance (DeFi), NFTs, and Web3 applications,” 21Shares said. 

The ETP aims to provide investors with a “straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges,” 21Shares said. 

Key Takeaways:

Data shows Bitcoin bulls opening margin long positions from $94,400.

A $189 million increase in Bitcoin futures open interest and a 15% increase in trading volume show sustained buying interest.

BTC momentum tends to slow before FOMC meetings and then turns volatile afterward. The same could happen following this week’s Federal Reserve statements.

Bitcoin (BTC) bulls are holding strong around the $94,500 level as the market awaits the Federal Open Market Committee (FOMC) meeting on May 7. Bitcoin analyst Axel Adler Jr. noted BTC’s price strength and pointed out a bullish cluster of long positions forming around $94,400 in the futures market. A similar cluster was observed at the end of April, which pushed BTC prices to $97,500.

Key takeaways:

Solana’s stablecoin supply rose by 156% in 2025, to hit a new record at $12 billion.

Solana’s TVL grew by 25% to $7.65 billion, with 27.7% decentralized exchange volume share, leading Ethereum and BNB Chain.

SOL price formed a bull flag, with a price target at $220.

Solana’s native token, SOL (SOL) failed to maintain its bullish momentum after reaching $156 on April 25, but an assortment of data points suggests that the altcoin’s upside is not over.