Solana reached an intraday high of $122.18, testing its highest price level in months. The move followed new proposals from the US Federal Reserve to regulate stablecoin issuers under the GENIUS Act. These proposals require stablecoins under Fed supervision to be 100% backed by approved assets such as short-term US Treasury bills. At the time of writing, SOL was trading around $119.51, up 2.13%. The immediate resistance sits between $122 and $124, and a convincing break above $124 could allow for further gains.
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