Solana developers have introduced a proposal to enhance the blockchain's tokenomics by implementing resource-based fees. This initiative aims to optimize the network's efficiency and economic model. In other developments, the Cardano Foundation announced the cancellation of this year's Cardano Summit due to the treasury funding proposal's rejection. Meanwhile, Hong Kong's 12 licensed virtual asset platforms reported a nearly threefold increase in trading volume year-over-year in Q1. On the macroeconomic front, U.S. stock indices reached new all-time highs, with the Nasdaq and S&P 500 rising 8.36% and 5.15% respectively in May. However, the total cryptocurrency market capitalization fell to $2.48 trillion, with the fear & greed index at 34.