SOL - If This 1 Thing Happens Solana Could Skyrocket Even Higher
2023-11-23 06:35:00 ET
For the past several months, Solana (CRYPTO: SOL) has been one of the hottest cryptos in the market. Over the past 30 days, Solana is up 88%. And for the year, Solana is now up a sizzling 437%.
While this eye-popping triple-digit performance may seem unsustainable, one event could send Solana skyrocketing even higher: a relisting on the Robinhood Markets (NASDAQ: HOOD) crypto trading platform. There are two important reasons why this relisting could be a catalyst for future gains.
First and foremost, a Robinhood relisting could help remove some, if not all, of the regulatory uncertainty around Solana. Back in June, Robinhood delisted Solana amid regulatory concerns from the Securities and Exchange Commission (SEC). While the SEC didn't take any enforcement action against Solana, the crypto token was mentioned in lawsuits filed against cryptocurrency exchanges Binance and Coinbase Global . The lawsuits mentioned "unregistered securities," with Solana as a potential example.
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If This 1 Thing Happens, Solana Could Skyrocket Even Higher