Solana shows resilience as network activity and TVL climb to $5.9 billion, even as macroeconomic headwinds and rising interest rates continue to pressure the token's year-to-date performance.
Solana reclaimed $100 after a Senate vote and shows growing TVL and regulatory wins, yet price remains down over the year.
Bitcoin fell 1.09% in tandem with other cryptos around the Senate vote, indicating broad selling pressure.
Ethereum dropped 3.08% during the same week, moving with the broader crypto market.
BNB Chain was identified as a chain that could benefit from the SEC's Innovation Exemption for tokenized securities.
Solana has reclaimed the $100 price level, trading near $110 following a period of volatility surrounding a recent Senate vote. Despite a 59% decline over the past year, the network's total value locked has surged to $5.9 billion, supported by new SEC Innovation Exemptions and growing institutional interest in tokenized assets.
It is a five-year conditional relief allowing Tokenized Securities Venues to trade tokenized NMS stocks on permissionless ledgers, provided they meet strict engineering requirements for auditability and trading halts.
Macroeconomic factors, specifically rising federal funds rates and 10-year Treasury yields, have created significant selling pressure on non-yielding assets like SOL.