Solana Price Tests $122 Amid US Stablecoin Regulation Proposals

Solana's price has reached an intraday high of $122.18, testing its strongest level in months.

This move comes as the US Federal Reserve proposes new rules for stablecoin issuers, requiring them to hold assets worth at least 100% of their issued coins.

The proposals, tied to the GENIUS Act, aim to regulate risk management, custody, and client fund returns for stablecoin issuers.

Solana's price has been on an upward trend since September, gaining 2.13% today. However, it faces its next test near $122, with a convincing move beyond $124 potentially allowing for further gains.