A high-profile House hearing on crypto regulation got testy Tuesday after House Democrats, led by Rep. Maxine Waters walked out in protest over President Donald Trump’s involvement in crypto. The joint hearing — organized by the House Financial Services and…

House Democrats walk out of crypto hearing, citing Trump’s ‘crypto corruption’

Cardano is gradually approaching a major support zone near $0.62, with several 
technical indicators aligning for a potential bounce. However, a lack of 
trading volume leaves bulls awaiting stronger confirmation. Cardano’s (ADA) 
has been in a slow decline over the…

Cardano nears $0.62 support: will oversold RSI spark a reversal?

**Key takeaways:**
 * Solana&#8217;s stablecoin supply rose by 156% in 2025, to hit a new record at $12 billion.
 * Solana&#8217;s TVL grew by 25% to $7.65 billion, with 27.7% decentralized exchange volume share, leading Ethereum and BNB Chain.
 * SOL price formed a bull flag, with a price target at $220.
Solana&#8217;s native token, SOL (SOL) failed to maintain its bullish momentum after 
reaching $156 on April 25, but an assortment of data points suggests that the 
altcoin&#8217;s upside is not over.
## SOL stablecoin market cap hits $13 billion
Solana&#8217;s stablecoin supply has skyrocketed by 156% in 2025, surging past $13 
billion to hit a new all-time high.
&gt; Stablecoins on Solana recently surged past $13B in issuance, setting a new 
&gt; ATH@calilyliu on why Solana is purpose-built for moving digital dollars at 
&gt; internet speed pic.twitter.com/WYPPg0LEG6 
&gt; 
&gt; &#8212; Solana (@solana) May 5, 2025
Circle&#8217;s USDC (USDC) remains the stablecoin of choice for Solana users, with a 
77% market share.
_Solana stablecoin supply surpasses $103 billion, setting a new all-time high. 
Source: DefiLlama_
Stablecoins are integral to Solana&#8217;s decentralized finance (DeFi) ecosystem, 
driving liquidity and increasing SOL demand as it&#8217;s used for transaction fees 
and staking, potentially pushing its price upward.
Increased stablecoin inflows historically correlate with price rallies, as 
seen between December 2023 and August 2024, when a 230% rally in SOL price was 
accompanied by a 160% increase in stablecoin inflows from $1.55 billion to 
$4.06 billion.
## Solana TVL and transaction count on the rise
Solana remains the second-largest blockchain in terms of total value locked 
(TVL) and ranks first in DEX volumes.
Solana&#8217;s TVL has risen from $6.1 billion on April 9 to $7.65 billion on May 6, 
an increase of over 25% in almost 30 days.
_Solana TVL and transaction count. Source:__DefiLlama_
Positive signs include a 44% increase in deposits on Sanctum, a liquid staking 
application, and 25% growth on Jito and Kamino.
Solana&#8217;s daily transaction count has also increased by 25% over the last month 
to 57.77 million transactions. 
While Ethereum and BNB Chain provide competition in terms of onchain volumes, 
the Solana network is the undisputed leader with daily DEX volumes standing at 
$2.61 billion at the time of writing. Solana also commands a 27.7% DEX volume 
market share, ahead of BNB Chains and Ethereum&#8217;s 18%.
_Blockchains&#8217; DEX volume dominance. Source: DefiLlama_
## SOL bull flag points to $220
SOL price has formed a bull flag chart pattern in the daily timeframe, as 
shown in the chart below. 
A bull flag pattern is a bullish setup that forms after the price consolidates 
inside a down-sloping range following a sharp price rise.
_SOL/USD daily chart. Source: Cointelegraph/__TradingView_
Bull flags typically resolve after the price breaks above the upper trendline 
and rises by as much as the previous uptrend&#8217;s height. This puts the upper 
target for SOL price at $220, up 53% from the current price.
Crypto analyst RisHad said that SOL price needs to hold the $120 &#8211; $130 
support to increase the chances of moving toward $178 and beyond.
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Solana bull flag, rising stablecoin market cap hint at SOL price rally to $220

KULR Technology Group has deepened its Bitcoin commitment, purchasing 42 
additional BTC and bringing its total holdings to 716.2 BTC, the company 
announced. The energy storage and management firm said it has spent 
approximately $69 million acquiring Bitcoin (BTC) at…

KULR CEO: Bitcoin adoption ‘still in early stages’ as firm expands holdings

Stocks are declining further as a shift in tariff policy looks less likely.

Dow Jones drops 400 points as tariffs are back in focus

Kelly Ayotte, the Governor of New Hampshire, signed a bill into law allowing 
the state&#8217;s treasurer to invest in cryptocurrencies, including Bitcoin (BTC).
In a May 6 notice, Ayotte announced on social media that New Hampshire would 
be permitted to &#8220;invest in cryptocurrency and precious metals&#8221; through a bill 
passed in the state Senate and House of Representatives. House Bill 302, 
introduced in New Hampshire in January, will allow the state&#8217;s treasury to use 
funds to invest in cryptocurrencies with a market capitalization of more than 
$500 billion, eliminating many tokens and memecoins.
_Signing New Hampshire &#8216;s crypto reserve bill into law on May 6. Source: 
__Governor Kelly Ayotte_
With the signing of the bill into law, New Hampshire was the first of several 
US states considering passing legislation to establish a strategic Bitcoin 
reserve, including an initiative with the federal government. A similar bill 
in Arizona passed the state&#8217;s House in April but was vetoed by Governor Katie 
Hobbs on May 2.
This is a developing story, and further information will be added as it 
becomes available.