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The US SEC delays decision on Solana ETF application | Gate Research Institute
Crypto Market Overview
BTC (+1.09% | Current Price 106,196 USDT): BTC has seen a widening fluctuation during the day, dropping to as low as 102,000 USD at one point before rebounding to reclaim the 106,000 USD mark. High-level fluctuations may be the main trend for Bitcoin in the near future. On Monday, BTC ETF had a net inflow of $361 million, with Fidelity's FBTC accounting for about $188 million and ARK's ARKB for $155 million.
ETH (+4.85% | Current Price 2,543 USDT): ETH briefly dropped below 2,400 USD during the day but subsequently rebounded and broke through the 2,500 USD mark. As the trading activity of the coin increases, ETH's market share continues to rise, currently reported at 9.27%. On Monday, the inflow and outflow data for ETH ETFs was almost negligible.
Altcoins: The market trend is further diverging, with fluctuations in prices. The Altcoin Season Index has further dropped to 23.
Macro: On Monday, U.S. stocks rose slightly, with the Dow Jones Industrial Average increasing by 137.33 points, a gain of 0.32%; the S&P 500 index rose by 5.22 points, a gain of 0.09%; and the Nasdaq Composite Index climbed by 4.36 points, a gain of 0.02%. Investors are digesting Moody's recent downgrade of the U.S. credit rating while also focusing on the upcoming vote on a comprehensive tax reform bill supported by President Trump. As of May 19, 10:00 AM (UTC+8), the spot gold price is reported at $3,221.84 per ounce, with a 24H decline of 0.26%.
Trending Tokens on Juejin
JUP Jupiter (+ 2.50%, circulating market cap 1.438 billion USD)
According to Gate's market data, the current price of JUP token is 0.504 USD, with a 24-hour increase of 2.5%.
Jupiter (JUP) is a decentralized finance (DeFi) aggregation platform built on artificial intelligence (AI) and blockchain technology, aimed at addressing the pain points of liquidity fragmentation and low trading efficiency in decentralized exchanges (DEX). Its core vision is to become the leading DEX aggregator in the Solana ecosystem, providing users with optimal trading paths, minimal slippage, and efficient asset exchange experiences by integrating multiple DEX protocols, on-chain data, and AI optimization algorithms. Jupiter addresses industry challenges such as high trading costs, complex user experiences, and market fragmentation through its core products (such as Jupiter Aggregator, Limit Order, and DCA tools).
On the news side, Jupiter tweeted that it has integrated the aggregation time tokenization platform time.fun for trading. time.fun supports the buying and selling of the time of creators, influencers, and experts, and all tokens can be traded instantly on Jupiter.
ADA Cardano (+ 1.63%, circulating market cap 27.146 billion USD)
According to Gate's market data, the current price of the ADA token is $0.751, with a 24-hour increase of 1.63%.
Cardano (ADA) is dedicated to building a secure and scalable third-generation blockchain platform that provides efficient and sustainable infrastructure for decentralized applications (DApps), smart contracts, and digital assets through a layered architecture and academically driven research and development approach. Its core vision is to promote the inclusivity and transparency of global financial and social systems, addressing pain points in traditional blockchains related to scalability, interoperability, and governance, such as high energy consumption, low transaction throughput, and community fragmentation.
In terms of news, Cardano developer EMURGO published an article explaining the redemption process for unclaimed ADA vouchers. It stated that although the vast majority of presale ADA vouchers have been successfully redeemed, there remains a small portion that has not been redeemed by the original holders. To assist these participants in redeeming their vouchers, IOG has conducted a detailed seven-year process, including multiple redemption events, to locate all participants and submit their registration information and related KYC documents. Given that most initial voucher holders are in Japan, EMURGO supports IOG in contacting these holders to facilitate redemption. Although in some cases holders have been successfully located, there are still some holders who could not be found. The Shelley hard fork has rendered the ongoing voucher redemption process for ADA unusable, necessitating a transfer to continue the redemption process. The identification process is carried out by local third parties, using various investigative methods, including home visits. EMURGO acknowledges the community's expectations for transparency and supports IOG in conducting independent audits.
Alpha Interpretation
SOON supports Camp Network launching CAMP SVM, focusing on on-chain autonomous IP.
The Solana Virtual Machine (SVM) Rollup project SOON announced via social media its collaboration with Camp Network to support the launch of CAMP SVM, the first SVM chain based on the SOON Stack, focusing on on-chain autonomous intellectual property (IP). This collaboration marks an important step for the Solana ecosystem in promoting the integration of blockchain technology and intellectual property. CAMP SVM, as a Layer 1 blockchain, aims to provide creators with instant IP registration, AI-driven collaboration tools, and a transparent user ownership mechanism, leveraging Solana's high performance and low-cost characteristics.
This collaboration has profound significance for the Web3 ecosystem and the creator economy. CAMP SVM, by combining AI and blockchain technology, offers new possibilities for the creation, management, and monetization of autonomous IP, attracting widespread attention from the community and developers. Discussions on the X platform show that the industry is optimistic about the potential of this innovation, believing it may bring breakthroughs for AI-driven decentralized applications and the creator economy. However, as an emerging project, the actual effectiveness and market acceptance of CAMP SVM still need time to be validated, especially as it may face challenges in the legal and practical application aspects of on-chain IP management.
Sahara AI launches SIWA developer testnet
Sahara AI announced the official launch of its SIWA testnet, a blockchain platform focused on the on-chain verification and traceability of AI assets, marking an important advancement in the decentralized AI ecosystem. The first phase of the SIWA testnet allows developers to register datasets through ERC-721 NFTs, creating verifiable and transparent ownership records. This mechanism provides an innovative solution for the intellectual property protection of AI data and models, addressing the issues of opaque data sources and unfair compensation for contributors in traditional AI development. Through the immutable nature of blockchain, Sahara AI ensures that the source of datasets is traceable, enhancing trust among developers and users.
This development is of great significance for the decentralized AI economy. The SIWA testnet lays the foundation for on-chain management and trading of AI assets, potentially reshaping AI development models and promoting fair distribution of data and models. However, challenges remain, including data privacy, legal compliance, and the cost of large-scale on-chain computation. Discussions on platform X reflect the community's optimism about Sahara AI, believing that its leading position in the integration of AI and blockchain may bring long-term value, but the actual performance of the mainnet and ecological expansion still need further observation.
The US SEC has postponed its decision on the Solana ETF application.
The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the Solana spot ETF proposals submitted by 21Shares, Bitwise, VanEck, and Canary Capital, citing the need for more time to assess relevant legal and policy issues. This decision aligns with the SEC's consistently cautious approach, especially concerning the approval of financial products involving encryption assets. According to the SEC's statement, this delay does not indicate the likelihood of final approval or rejection, but rather reflects the regulator's in-depth consideration of complex issues such as the classification of Solana (SOL) as a potential security and the compliance of ETF products.
The recent delay involves four asset management companies that had previously submitted a 19b-4 application through the Cboe BZX exchange, attempting to launch a Solana spot ETF in the U.S. Earlier, these applications were withdrawn in 2024 due to regulatory concerns from the SEC, but in early 2025, Cboe re-submitted an updated application, demonstrating the issuers' continued optimism about the Solana ETF. The market's expectations for the Solana ETF are partly fueled by the high performance and rapid growth of the Solana blockchain, whose price has surged over 2,500% in the past year, with a market capitalization exceeding that of traditional companies like Starbucks and Nike.
Gate launchpool
Initial Offering Details
Subscription Project: Wayfinder
Token Name: PROMPT
New subscription time: Until May 26, 2025, 20:00 (UTC+8)
Participation method: GT, USDT
Individual participation limit: 1,000 GT, 5,000 USDT
Total airdrop: 150,000 PROMPT
Project Introduction
Wayfinder is an AI protocol launched by Parallel, aiming to introduce AI agents into the blockchain to support Colony's gameplay. It allows AI agents ("Shell") to execute transactions on-chain, interact with decentralized applications, and can be applied in both gaming and non-gaming scenarios. For instance, games can utilize Wayfinder to run AI agents or manage scarce resources; additionally, the protocol can also be used for smart trading, NFT minting, and even AI customer service scenarios.
Reference Materials:
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