- SOL holds above $140 support with price targeting $190–$230 after April’s strong close.
- Solana fixed a critical bug in Token-22 without exploits, raising decentralization concerns.
- Pump.fun drives fee growth as Solana leads Q1 2025 protocol revenue among major blockchains.
Solana (SOL) ended April with a strong monthly close, holding above a key horizontal support level near $140. The asset has maintained its uptrend and is now trading around $147. According to analysis, the price may remain above this level for several months before any trend reversal, with $190–$230 as the projected rejection zone.
Solana Foundation Fixes Critical Token Vulnerability
The Solana Foundation confirmed that developers had addressed a serious vulnerability in the Token-22 confidential tokens, which are part of the network’s privacy protocol. The flaw, discovered on April 16, could have allowed attackers to generate false zero-knowledge proofs and gain unauthorized access to token minting and withdrawals.
The issue stemmed from missing algebra components during the Fiat-Shamir transformation process in the ZK ElGamal proof system. This affected the private balance verification mechanism. According to the Foundation, teams from Anza, Firedancer, and Jito led the software patch rollout, with a majority of validators applying the fix within two days. No exploits were reported.
The process raised questions about network decentralization due to private coordination between the Solana Foundation and validator groups. The Foundation defended its approach by citing the urgency of deploying the fix to avoid any potential damage.
SOL Price Holds Above Key Support Amid Strong On-Chain Metrics
SOL has gained over 20% in the past month, bouncing from lows of $120. The price is now attempting to stay above the $150 resistance level, which could turn into support. According to an observation by SatoshiOwl on X, he expressed optimism stating that SOL would surge to $160 by next week.
On-chain data supports this view. According to Token Terminal, Solana-based memecoin platform Pump.fun has generated $294 million in fees year-to-date, surpassing Ethereum’s $249 million. It has also posted higher weekly fees than Ethereum for nine consecutive weeks.
According to analysis prepared by Glassnode, Solana recorded the highest Q1 2025 protocol revenue across major blockchains, signaling strong user activity and growing network adoption.
