SOL Price Breaks Crucial $150 Level Amid Robinhood’s Solana Staking Debut In Europe
15 Mayo 2024 - 4:00PM
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Robinhood Crypto has announced the introduction of a Solana-staking
product in Europe, accompanied by a bonus program for new
customers. This development comes as the company faces
increased tensions with US regulators, which could potentially lead
to legal repercussions. However, the move has propelled Solana’s
(SOL) price to surpass the crucial $150 level, indicating a return
of bullish momentum in the market. Solana Staking And Crypto
Rewards According to the announcement, Robinhood unveiled new
features for its European customers. These offerings include
staking, localized applications, and crypto rewards. As part
of its expansion, Robinhood has launched its first crypto-staking
product exclusively for European customers. Through the platform,
users can stake their Solana holdings and earn rewards with the
ability to unstake their assets at any time. Additionally,
new customers can receive a 10% bonus on their net purchases during
their first 30 days on the platform, with the bonus paid out in
Circle’s USDC stablecoin. This initiative aims to attract new users
and improve their crypto investing experience. Related Reading:
Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week
While Robinhood Crypto expands its offerings in Europe, the company
faces regulatory challenges in the United States. The US Securities
and Exchange Commission (SEC) has issued a Wells Notice to the
exchange, indicating the staff’s recommendation for an enforcement
action against the platform. Robinhood expressed
disappointment in the SEC’s decision, emphasizing their efforts to
seek regulatory clarity and asserting their belief that the listed
assets on their platform are not securities. Vlad Tenev, the CEO of
Robinhood, revealed that the company has held over 16 meetings with
the SEC. However, these interactions have been largely
unsatisfactory, according to Tenev. He expressed the company’s
willingness to engage with the SEC in good faith but noted the
regulatory body’s lack of reciprocal efforts. SOL Bulls Eye $200 As
Trading Volume Rises Solana’s native token, SOL, experienced a
significant rebound in the past hour, surging from the $140 zone to
its current trading price of $153. This price movement holds key
significance for bullish investors as they aim to retest the $200
mark previously surpassed in March. CoinGecko data further
reveals a notable increase in SOL’s trading volume, reaching $2.7
billion in the last 24 hours, representing a 6.6% rise compared to
the previous Monday’s trading session. Related Reading: Floki Inu
Moment Of Glory: Analysts Forecast Explosive 200% Rally According
to crypto analyst Jesse Olson, Solana has shown strength in its
recent price action. Olson notes that Solana successfully hit all
four downside targets and exhibited bullish divergence, followed by
hitting three upside targets. The price appears to form a
higher low, increasing the probability of reaching “target four,”
projected at the $175 mark. Despite the bullish momentum, SOL faces
crucial resistance walls at $157 and $172, which are expected to be
significant obstacles toward higher price levels. On the
other hand, the $140 line has served as a key support level for
Solana’s price over the past week. SOL’s bullish momentum remains
uncertain as it strives to overcome these resistance levels and
retest its yearly high of $209. Featured image from Shutterstock,
chart from TradingView.com
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