Solana Price Stabilizes at $94 Amid Institutional Buying and Governance Voting
Solana's price has been steady at around $94 on Monday after last week's 27% rebound to a two-month high. The SOL-focused Exchange Traded Funds (ETFs) saw four consecutive days of inflows totaling $28.34 million, indicating renewed institutional buying.
Validator voting on multiple proposals began on Monday, including doubling the disinflation rate to 30%. This move is part of the Solana validator voting process, which will end on Thursday and includes three proposals: SGP 1, SGP 2, and SGP 3.
The SGP 1 protocol aims to ratify the Solana Constitution for network-level decision-making. SGP 2 proposes reducing the inflation rate by increasing the disinflation rate to -15% to -30%. Meanwhile, SGP 3 plans to introduce a fixed base inclusion fee paid to the block leader and a resource fee with a requested transaction cost, which will be burned.
These proposals are expected to restructure on-chain decision-making and reduce pressure on available supply. Solana's price remains capped below the $100 psychological level and the May 11 high of $98.41. For a sustained recovery, SOL needs to confirm a decisive close above the $100 mark.