TLDR:
- Solana price rose 3% on May 20, 2025, recovering from previous 6% drop
- Anza unveiled major consensus protocol change called Alpenglow, switching from Tower BFT to Votor and Rotor
- SOL is trading within $160-$180 range after rejection at $185-$190 resistance zone
- Galaxy Digital partnered to launch tokenized equities on Solana, adding institutional credibility
- Total value locked in Solana protocols increased from $7B to over $10B since April
Solana’s price has shown signs of recovery, gaining 3% in the past 24 hours after experiencing a 6% drop the previous day. The cryptocurrency is currently trading at approximately $165.80, maintaining its position within a crucial consolidation range between $160 and $180.
The price movement comes as the broader cryptocurrency market attempts to stabilize, with Bitcoin holding above $100,000 amid predictions of a potential run to $150,000-$200,000 later in 2025.
On May 20, Solana-focused research and development firm Anza announced Alpenglow, described as the largest Solana Protocol consensus change to date.
This major upgrade replaces the previous Tower BFT and Proof of History consensus protocol with new mechanisms called Votor and Rotor.
According to Anza, “Votor finalizes blocks in a single round of voting if 80% stake is participating, and it finalizes in two rounds of voting if 60% of stake is responsive.”
The update also involves “flattening the turbine tree to reduce network latency” through Rotor, which should improve network performance through “higher fanout, fewer layers, lower latency.”
Institutional Interest Grows
In a separate development boosting Solana’s prospects, Galaxy Digital has teamed up with Sol Strategies to launch NASDAQ-regulated tokenized equities on the Solana blockchain.
This partnership represents a major step toward institutional adoption and positions Solana as more than just a platform for DeFi or NFT applications.
The total value locked (TVL) in protocols on Solana has shown strong growth, increasing from lows of $7 billion in April to over $10 billion currently. This metric indicates growing usage and confidence in the network’s ecosystem.
From a technical analysis perspective, SOL faces resistance around the $180-$190 zone, which has acted as a ceiling in previous attempts.
The cryptocurrency has formed a falling wedge pattern on short-term charts, which some analysts interpret as a potentially bullish signal if confirmed by increased trading volume.
$SOL/usdt 4 hour
Lovely new idea for $SOL –> this 4 hour falling wedge is stunning, picture perfect and looking ready to go as soon as $BTC & $ETH allow it 🎯 pic.twitter.com/tJuISpnicQ
— Satoshi Flipper (@SatoshiFlipper) May 17, 2025
Despite testing highs near $185 recently, Solana pulled back by nearly 10% upon encountering this resistance level. The weekly chart still shows a higher low structure forming, which suggests the broader trend remains bullish.
🚨🚨 Solana Analysis Chart 👇$SOL has been rejected from its key resistance zone, which is around $182 to $195.
If it breaks out with high volume, we can expect another ATH. pic.twitter.com/f9aQGMypCS
— Crypto Aman (@cryptoamanclub) May 17, 2025
Large transfers from Binance wallets have raised some concerns among market observers. Millions of dollars worth of SOL have reportedly been moved from Binance to external destinations, though it remains unclear whether these represent sales or internal redistributions.
The anticipation around potential Solana spot exchange-traded funds (ETFs) continues to provide support for the asset’s valuation. The U.S. Securities and Exchange Commission has delayed decisions on multiple Solana spot ETF applications, but market sentiment remains optimistic.
Regulatory developments are also playing a role in shaping Solana’s outlook. The U.S. Senate recently passed a key vote advancing the ‘Genius Act,’ a bill aimed at regulating stablecoins, which now has a high chance of being adopted into law.
Analysts suggest that if SOL can reclaim the $180 level with strong participation, there’s potential for retesting its all-time high in the coming months. However, the current rejection at resistance doesn’t necessarily indicate a bearish shift, but rather a consolidation phase before another potential upward attempt.
For now, SOL’s price remains within the $160-$180 range, which previously held as bulls recovered to rally to highs near $260 earlier in its trading history.
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