Solana
Why Solana is up 1.5% today
Analysis
Solana (SOL) rose about 1.5% over the past 24 hours, likely supported by adoption news after The Block reported that Cash App now lets users send USDC on chains including Solana, which can be viewed as a positive utility and distribution signal for the network. The move came despite mixed-to-negative headlines elsewhere, including CoinDesk’s report of a TrapDoor package attack targeting Solana wallet data and Cointelegraph noting a sharp drop in Solana open interest alongside broader altcoin weakness.
Contributing Factors (3)
Solana, Sui and Aptos wallet data targeted in TrapDoor package attack
The campaign targets crypto, DeFi, AI and security developers with fake tooling packages to steal wallets, SSH keys, GitHub tokens, cloud credentials and browser data.
Solana open interest drops 30% as altcoins slump: Is $68 SOL next?
Bulls abandon ship as SOL futures open interest dropped 30% in May. With the price weakening near $80, Solana may be destined for new lows.
Cash App lets users send USDC stablecoins on chains like Solana and Ethereum
Cash App users can now transfer on Solana, Ethereum, Polygon and Arbitrum, but executive Miles Suter says the firm is still bitcoin-focused.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.