Solana tests $122 as Fed outlines new stablecoin rules under GENIUS Act
- —SOL hit an intraday high of $122.18 and trades near $119.51, up 2.13%
- —The Fed sought public comments on two proposals tied to the GENIUS Act
- —Fed-supervised stablecoins would need 100% backing in approved assets
- —Immediate resistance sits at $122–124, with support at $116 and then $108–110
Why it matters: Clearer US stablecoin rules could draw regulated issuers and users to public blockchains like Solana, where stablecoins drive a large share of trading and payments.
Source: AMBCrypto
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