Solana price has seen a significant boost since Donald Trump’s recent victory in the U.S. presidential election. Over the past month, the price of SOL has soared by more than 40%, reflecting a broader bullish trend in the cryptocurrency market. This strong performance has fueled optimism among investors, with many speculating on further gains in the near future. Several factors could impact Solana’s price trajectory over the next 30 days as market activity remains heightened.
7 Key Factors That Could Influence Solana Price in the Next Month
With the digital asset gaining momentum, all eyes are now on events that could influence Solana’s continued rise. With the Bitcoin price hovering above $90k, the market is resurging strongly, fueling the rally in Solana’s price. At the time of writing, the SOL price is trading at $215, with a 3% surge in the past 24 hours. Uncover these six events that could impact the SOL price by December.
Regulatory Developments
During a summer conference, former President Donald Trump pledged to remove Gary Gensler from his role as SEC Chair. Many have viewed Gensler as a challenge to the cryptocurrency sector, including Solana, which has faced legal action from the SEC.
In recent court filings, the SEC removed the term “crypto asset securities” but expanded claims against exchanges allowing trades of SOL, Solana’s native token. If Trump’s pledge were fulfilled, Solana could see reduced regulatory scrutiny, fostering an environment that supports its growth.
Launch of Solana-Based ETFs
While Bitcoin and Ethereum ETFs have gained SEC approval, Solana ETFs remain stalled due to classification issues. A crypto-supportive SEC chair could improve Solana’s chances of ETF approval, allowing broader investor access to SOL.
Several companies, including Canary Capital, VanEck, and 21Shares, have filed for Solana ETFs, showing market interest. The approval of such ETFs could attract new capital to Solana, boosting demand and driving up prices.
Network Upgrades and Developments
Solana’s commitment to enhancing its network’s scalability and security can influence its market value. Successfully implementing upgrades or solutions to past network issues may positively affect the price.
Partnerships and Ecosystem Growth
Collaborations with other projects or the launch of new applications on the Solana platform can increase its utility and attractiveness, potentially boosting SOL’s price.
Robinhood Reintroduces Solana
Robinhood has expanded its U.S. crypto offerings by relisting Solana alongside other coins like ADA and XRP. This strategic move aims to strengthen Robinhood’s position in the competitive crypto market, providing broader options for investors.
By reintroducing Solana meme coins on a popular platform, Robinhood may drive greater engagement, potentially spurring higher demand and positively impacting Solana’s price. This listing could attract new users and benefit existing Solana investors as market interest intensifies.
New U.S. Leadership
The recent election of Donald Trump as President has sparked optimism in the cryptocurrency sector. President-elect Trump has supported digital assets, attending cryptocurrency-focused events and voicing commitment to fostering digital innovation.
This positive stance has raised hopes that the incoming administration might create a more favorable regulatory landscape for cryptocurrencies like Solana. With potential policy shifts on the horizon, analysts suggest Solana’s price could benefit from this pro-crypto climate.
Solana’s price trajectory looks promising, driven by favorable regulatory shifts, strategic partnerships, and potential ETF approvals. Upcoming network upgrades and Robinhood’s reintroduction of Solana could further stimulate demand, setting a strong foundation for sustained growth in the coming month.
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