You Won’t Believe What the SEC Just Did to Solana… Whales Are Laughing All the Way to the Blockchain!

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  • The U.S. SEC, displaying its usual knack for the glacial, has flung open the courtroom windows to solicit “legal views” from “interested persons.” One imagines reams of missives penned feverishly over 21 days, only to be glanced at—if at all—by an intern subsisting on vending machine caffeine.
  • Meanwhile, Solana whale investors—whose appetites apparently rival that of Augustus Gloop at a chocolate river—are gobbling up $SOL with wild abandon. 🐋💸

In a display of bureaucratic choreography worthy of Gilbert and Sullivan, the SEC has elected to delay any actual decision on the Grayscale Solana Trust—whether it shall gain the golden ticket to list its commodity-based shares. Assistant Secretary Sherry Haywood, whose name alone evokes images of tepid boardrooms and filtered coffee, released a statement: the commission will “institute proceedings.” (Cue the chamber music and sighing clerks.)

“Institution of proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the commission has reached any conclusion with respect to any of the issues involved,” the announcement deadpanned, presumably unable to locate the ‘Yes’ or ‘No’ buttons on its keyboard.

While the press release lingers longer than a relative you didn’t invite to dinner, the SEC invites anyone with sentience and strong opinions to submit their literary treasures within the next 21 days. The true connoisseurs—those who crave rebuttal—get 35 days to demonstrate their rhetorical prowess and, doubtless, impeccable grammar.

Solana Whales on a Buying Spree

The Solana network, not to be outdone by dormant regulators, is cresting a veritable wave of enthusiasm. There’s a remarkable upsurge in non-zero wallets, presumably because it is better to hold some SOL than to lie awake at night regretting not having any at all. Institutional investors are pouring in, most likely after exhausting all other options for excitement on a Tuesday afternoon.

For example, Upexi snapped up 326,347 SOL at a casual $135 apiece, bringing its current hoard to a rotund 596,714. SOL Strategies, never one to be left out of a shopping spree, took home 122,524 SOL at $148 per token, all in the name of something called “treasury portfolio strengthening”—which is really just losing at FOMO with style. Memecoins, those darlings of the degenerate, have carried Solana’s adoption on their furry, pixelated shoulders over the past year. 🐶🍟

SOL Price Ready for New ATH

As the parade of altcoins marches through the streets in bullish regalia, the SOL price readies itself to retest its all-time high. Bulls are animated, bears have taken early leave, and euphoric whispers of a 2025 rally linger like the aroma of someone else’s expensive lunch in an open-plan office.

$180 remains tough resistance and $150–$160 looks like a good reload zone $SOL

— Kamil (@KamilShaheen19) May 13, 2025

Technically speaking (and let’s not get carried away with that), should SOL mop the floor with the $180 resistance, a charge towards $221 and beyond seems plausible—at which point, the only thing more inflated than excitement will be the number of self-congratulatory tweets. 🚀📈

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2025-05-13 23:01