Solana’s governance may see a transformation through a new inflation voting model proposed by Galaxy Research. Meanwhile, Bitcoin whales continue accumulating, signaling bullish sentiment even as macro indicators such as the MOVE index affect broader financial expectations. On the regulatory front, Slovenia’s proposed tax framework could create friction in a currently crypto-friendly landscape. And despite economic tariffs, projections for Bitcoin’s year-end performance remain firmly optimistic.
🟢 Galaxy Research Proposes MESA Voting Framework to Reform Solana’s Inflation Model
Galaxy Research has introduced the Multiple Election Stake-Weight Aggregation (MESA) framework to address challenges in Solana’s current inflation governance. This proposal aims to replace the existing binary voting system with a more nuanced approach, allowing validators to select from multiple inflation rate options. The final rate would be determined through a weighted average based on the stake of each validator, promoting a more representative consensus.
The MESA framework emerges after the failure of the SIMD-228 proposal, which lacked sufficient support to adjust Solana’s inflation schedule. Currently, Solana’s inflation starts at 8%, decreasing by 15% annually until it stabilizes at 1.5%. The MESA proposal doesn’t alter the terminal rate but seeks to streamline the decision-making process, reflecting the collective preferences of the community more accurately. easing investor confidence and attracting more participation in the network.
🟢 Bitcoin Whales Continue Accumulation Amid Shifting Market Sentiment
Recent on-chain data indicates that Bitcoin whales, entities holding over 10,000 BTC, are actively accumulating, signaling strong confidence in the asset’s long-term value. Simultaneously, mid-sized holders (10–100 BTC) are showing signs of reduced selling pressure, suggesting a potential shift towards accumulation.
This trend reflects a broader market sentiment where larger investors are positioning themselves for anticipated future gains. The alignment between whales and mid-sized holders could indicate a strengthening bullish outlook for Bitcoin, especially if macroeconomic conditions stabilize.
Market Impact: The continued accumulation by large holders may support Bitcoin’s price stability and could lead to upward momentum if accompanied by positive economic indicators.
🟢 MOVE Index Decline Sparks Speculation on Federal Reserve Actions
The MOVE index, a measure of U.S. Treasury market volatility, has declined below 140, currently standing at 114.64. This decrease suggests reduced expectations for imminent Federal Reserve interventions to inject liquidity into the market.
A lower MOVE index indicates calmer bond markets, which may lead the Fed to maintain its current monetary policy stance without additional stimulus measures. This environment could influence investment strategies, with investors adjusting their portfolios in anticipation of steady interest rates.
Market Impact: Stability in the bond market may encourage risk-on behavior among investors, potentially benefiting equities and cryptocurrencies as they seek higher returns.
🔻 Slovenia Proposes 25% Tax on Cryptocurrency Gains Starting 2026
Slovenia’s Finance Ministry has proposed a 25% tax on profits from cryptocurrency transactions, set to take effect in 2026. The tax would apply to conversions of crypto assets into fiat currency or their use in purchasing goods and services, while crypto-to-crypto transactions would remain exempt.
The proposal aims to align crypto taxation with traditional financial instruments, addressing current loopholes where individual crypto traders are untaxed. However, critics argue that such measures could deter crypto investment and innovation within the country.
Market Impact: If implemented, the tax could lead to a decline in crypto trading activity in Slovenia, potentially prompting investors to relocate to more crypto-friendly jurisdictions.
🟢 Bitcoin’s Year-End Price Forecast Remains Optimistic Despite Tariff Announcement
Macroeconomist Lyn Alden maintains a positive outlook for Bitcoin, projecting its price to exceed $85,000 by the end of 2025, despite recent tariff announcements by the U.S. government. Alden notes that while tariffs may introduce short-term volatility, the long-term fundamentals for Bitcoin remain strong, especially if liquidity conditions improve. The resilience in Bitcoin’s price forecast underscores investor confidence in its role as a hedge against inflation and economic uncertainty. Continued institutional adoption and favorable regulatory developments could further bolster its value proposition.
Market Impact: Sustained optimism in Bitcoin’s price trajectory may attract new investors, contributing to increased market capitalization and liquidity in the crypto space.
Key Takeaways
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Solana’s Inflation May Get Smarter: Galaxy Research’s MESA voting model aims to create a more democratic and nuanced approach to adjusting Solana’s inflation rate, after past reform efforts failed.
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Bitcoin Whales Are Still Bullish: Large BTC holders are accumulating coins, and mid-tier wallets are starting to show similar behavior, potentially setting the stage for a market rally.
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Market Calm Reflects Fed Confidence: The MOVE index has declined, suggesting investors no longer anticipate aggressive liquidity moves by the Federal Reserve, creating a more stable financial outlook.
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Slovenia’s Tax Plan Could Stifle Crypto: The 25% tax on realized crypto gains proposed by Slovenia may push investors toward more crypto-friendly countries and reduce local market activity.
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Bitcoin Still Expected to Surge: Despite macro pressures like tariffs, Bitcoin’s projected price for year-end 2025 remains above $85,000, backed by strong fundamentals and investor confidence.
