Before delving into the potential value of Solana coin in Turkish Lira, let’s address an important development related to SOL.
The Robinhood Effect
Crypto investors recall Robinhood’s decision to delist Solana from its platform in late June due to regulatory concerns. Now, discussions are arising about the potential implications of its relisting.
A New Catalyst for Solana Coin Price
Robinhood’s relisting of Solana could act as a catalyst for future gains. Over the last few months, Solana has experienced significant growth, witnessing an 88% increase in price within 30 days and a 437% rise since the beginning of the year.
- Eliminating Regulatory Uncertainty: Robinhood’s relisting could help eliminate regulatory uncertainty surrounding SOL, stemming from its previous classification as an unregistered security by the Securities and Exchange Commission (SEC) in June.
- Return of Individual Investors: If Solana is relisted on Robinhood, it could attract more individual investors, potentially leading to a rally, especially considering Robinhood’s user base of over 10 million.
Will Robinhood Relist Solana?
There are indications that relisting is possible. In the latest quarterly earnings report presentation, Robinhood CEO Vlad Tenev mentioned the potential for relisting Solana once the SEC provides additional regulatory clarity.
Considering Robinhood’s recent challenges with a 55% decrease in crypto trading revenue and a 16% reduction in monthly active users, the addition of a “hot” cryptocurrency like Solana could revitalize their crypto trading platform.
Current Value of Solana Coin
As of now, Solana coin is trading at 1,649 TL. It’s essential to note that cryptocurrency prices fluctuate in real-time.
Solana reached its peak in Turkish Lira in December 2021, reaching 3,361 TL.