Crypto research firm Galaxy Research has introduced a proposal that aims to reform how future decisions are made about Solana’s token inflation rate.

The latest move follows a failed attempt to reach consensus in a previous governance vote.

The earlier vote – SIMD-228 – had sparked strong community engagement and broad agreement on the need to reduce inflation, but ultimately fell short due to limitations in the voting structure.

The new proposal suggests replacing the traditional single-outcome voting method with a more flexible and representative system called Multiple Election Stake-Weight Aggregation, or MESA. Rather than asking voters to choose a binary “yes” or “no” on a single deflation rate, MESA allows validators to select from a range of deflation options, such as maintaining the current 15% rate or increasing it to 17.5%, 20%, or more.

Each validator’s vote is weighted by their stake, and the final outcome is a weighted average of all the selected rates. This market-driven approach is designed to better reflect the diverse preferences across the Solana ecosystem and aims to offer a middle ground instead of forcing the community to align around one predetermined figure.

By doing so, it seeks to avoid repeated re-voting and governance deadlock, and aims for smoother decision-making without sacrificing predictability. The fixed, time-dependent disinflationary structure – with a 1.5% terminal inflation rate – would remain in place, to preserve long-term consistency while giving the community more influence over how quickly that terminal rate is reached.

The proposal also outlines practical steps for implementation, such as clearly labeling different voting options and setting an appropriate quorum and supermajority threshold.

If adopted, this method is expected to not only streamline Solana’s inflation decisions but also serve as a model for other decentralized protocols facing similar governance challenges. The proposal is currently under discussion and invites feedback on key parameters like vote weighting, choice intervals, and thresholds for implementation.

Although the previous week was much more eventful and volatile due to the escalating global trade tensions between the US, China, and other nations, this one also had some notable events that we need to discuss.

Recall that bitcoin’s price ended last week on a positive note, after dumping below $75,000 to mark a five-month low. The tariff pause for almost all countries (aside from China) led to a significant bump on Thursday and Friday, and BTC entered the weekend at around $82,000.

Unlike the previous one, last weekend was even mildly bullish as bitcoin jumped to $85,000 on Sunday evening. It continued its ascent on Monday by tapping $86,000, where it faced immediate rejection. Although it dropped by $3,000 within a day, it went back on the offensive later that day and jumped to a multi-week peak of $86,500.

However, another rejection followed that brought a similar decline. Wednesday saw some more muted volatility (compared to the previous week) when BTC aimed at $86,000 but was quickly stopped by Fed Chair Jerome Powell’s hawkish comments about the interest rates, as well as highlighting the dangers of the tariff war.

Nevertheless, bitcoin has remained range-bound and its price now stands between $84,000 and $85,000 as it has been throughout most of the week. Although some altcoins, such as Bitcoin Cash and Solana, have outperformed BTC on a weekly scale, the largest cryptocurrency’s market dominance has only strengthened lately.

It has surpassed the 60% mark on most data aggregators, just like it did four years ago. However, this time it carries a lot more weight due to the existence of millions of coins, unlike in 2021.

Market Data

Market Cap: $2.75T | 24H Vol: $60B | BTC Dominance: 60.9%

BTC: $84,450 (+2.3%) | ETH: $1,585 (+1.2%) | XRP: $2.06 (+3%)

This Week’s Crypto Headlines You Can’t Miss

Bitcoin Whales Have Been Buying ‘Like Never Before:’ Analyst. It appears that large Bitcoin investors, holding between 1,000 and 10,000 BTC, have been accumulating aggressively over the past two months. This comes despite the range-bound price action, highlighting increasing investor confidence among whales.

White House Mulls Bitcoin Reserve Backed by Gold and Tariffs. Bo Hines, the Executive Director of the President’s Council of Advisers on Digital Assets, said that the current US administration is looking into the creation of a national Bitcoin reserve. The caveat is that it would be funded by alternative government revenue streams like tariffs.

Bitcoin (BTC) May Be Entering a Wait-and-See Phase: Here’s Why. Bitcoin’s realized capitalization is around $872 billion. However, cautious investor behaviour and relatively slower growth hint that the market may be entering a phase of consolidation.

Bitcoin ETFs, Corporate Buyers Are Quietly Stabilizing BTC Prices: Analyst. Bitcoin’s price experienced heightened volatility last week, but according to an analyst, corporate whales (like Strategy) and Bitcoin ETF buyers are responsible for stabilizing the price.

BASE Token Dumps and Pumps as ‘Content Coins’ Spark Debate. The popular Ethereum L2, Base – a protocol incubated by Coinbase – launched a token called Base is For Everyone (BASE). Although not explicitly a meme coin, it sparked considerable controversy as reports emerged of people turning massive profits.

Trump Threatens to Fire Fed Chair as Crypto Traders Wait for FOMO. President Donald Trump accused the chairman of the US Federal Reserve, Jerome Powell, of failing to assess the current economic situation in the country properly, particularly in terms of not lowering interest rates amid reportedly declining inflation.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Hype, and Solana – click here for the complete price analysis.

Following President Trump’s April 9th announcement of a 90-day halt on new tariffs, market sentiment rebounded sharply, especially for Bitcoin. The surge appears mainly fueled by strong spot market activity, with little influence from derivatives.

According to Bitfinex Alpha, this suggests genuine interest from real-money investors, rather than speculative bets, indicating confidence in the market’s direction.

Textbook Mid-cycle Reset

Bitcoin has now spent 88 days in a correction phase since hitting its all-time high of $109,590 on January 20th. The cryptocurrency has dropped just over 25% during this period. Bitfinex’s latest report revealed that, historically, the depth and duration fit well within typical bull market retracements, and make the current move more of a healthy pause than a major trend shift.

Past Bitcoin cycles often featured 25-35% drops from local highs, followed by 3-4 months of consolidation before fresh rallies emerged.

By those standards, this correction matches prior market behavior both in magnitude and timing. While the decline is sharp, it remains consistent with a mid-cycle pause rather than a breakdown of the ongoing bullish trend.

Broad-Based Buying Amidst Consolidation

A notable trend over the last week has been the persistent rise in Spot Cumulative Volume Delta (CVD), which reflects the net imbalance of aggressive buy versus sell orders. Across top spot exchanges, buyers were found to have been consistently lifting offers, which depicts a strong intent to absorb supply, even from large-scale sellers.

Despite this clear buying pressure, Bitcoin’s price action continues to stay trapped in a tight $75,000 to $85,000 range, with high-timeframe charts reflecting sideways consolidation rather than any decisive directional shift.

This “divergence” between strong buying activity and stagnant price action points to quiet but meaningful accumulation. Despite aggressive buy orders, prices remain capped, which suggests that supply is not being met with significant resistance from sellers.

This rising Spot CVD, observed across a wide array of exchanges, signals that accumulation is taking place on a broad scale, not isolated to a single platform or region. This type of steady accumulation, which is occurring beneath the surface, can create conditions for a powerful breakout.

If the order book starts to thin and passive sell pressure declines, the market may see a sharp upward reaction. However, a macroeconomic catalyst may be necessary to trigger this shift. Similar setups in the past, which are marked by rising CVD and price consolidation, have been followed by sharp upward moves once resistance breaks. So while the surface appears quiet, there’s growing potential energy building beneath the market structure.