During the last month, the House Financial Services Committee released a discussion draft on the 'Structure of the Digital Asset Market' to clarify when digital tokens are considered securities versus commodities, and to establish disclosure and registration requirements for issuers and trading platforms. At the same time, Senators Bill Hamer (Republican) and Kirsten Gillibrand (Democrat) led a bill focusing on regulating stablecoins, but nine Democrats withdrew their support in objection to anti-money laundering standards and systemic risk reduction. Both drafts aim to establish the first comprehensive federal rules for digital assets, with each varying in scope: the House draft includes a broad reform of market structures, while the Senate bill focuses solely on stablecoins. Hearings and amendments are expected to be held in early May, followed by a vote on the final text later.
The Solana (SOL) cryptocurrency experienced a significant rise in April 2025, with its price increasing by more than 35% over the past ten days, recovering from a low of $97.18 to around $132.
This surge accelerated following the launch of the first spot exchange-traded fund (ETF) dedicated to Solana on the Toronto Stock Exchange, leading to a 7% increase.
This upward momentum is supported by strong technical indicators and a noticeable increase in trading activity, as 71.87% of leveraged positions are long positions, indicating optimism among traders.
The trading volume of Solana contracts also rose by 32%, surpassing $10 billion.
In terms of market capitalization, Solana briefly surpassed Binance Coin (BNB), reaching nearly $42 billion, ahead of Binance, which stood at $41.9 billion, but later fell back behind after BNB's market value rose to $104 billion, while Solana reached $95 billion.
Analysts expect Solana to face resistance between the $160 and $180 levels in the short term, while long-term forecasts suggest it could reach between $220 and $1000 by the end of 2025.
Currently, Solana is trading at around $133.95, an increase of 1.36% from the previous close.