The SEC has recently announced that it has classified Solana (SOL) as a digital commodity. Along with SOL, Bitcoin (BTC), Ethereum (ETH), and 14 other assets have also been classified as digital commodities. Let’s discuss if the regulatory change will lead to a price rally for Solana (SOL).
Will Solana Rally After Being Classified As A Digital Commodity By The SEC?
SOL is already showing signs of a recovery, after a prolonged bearish phase. According to CoinGecko’s Solana data, SOL’s price has surged 0.5% in the last 24 hours, 9% in the last week, 10.6% in the 14-day charts, and 11.5% over the previous month. SOL currently seems to be facing some resistance at the $95 price level.
Solana’s (SOL) latest upswing could be due to a combination of factors. The SEC’s recent classification could be one of the reasons behind SOL’s rally. Moreover, the larger crypto market is also showing signs of a rebound. Bitcoin (BTC) has reclaimed the $74,000 price level, and other assets seem to be following its trajectory. The market resurgence could be due to the US removing certain sanctions on Russian oil to stabilize global energy markets. Solana (SOL) may be rising due to increased investor sentiment arising from all factors.
While the rally is welcome, it is unclear if Solana (SOL) can sustain the upswing. The crypto market is far from recovered and risk-appetite among market participants is still low. An escalation in the Middle East conflict could lead to another market correction.
Also Read: Solana Going Beyond $93 Could Send It To $105
CoinCodex analysts are quiet bullish Solana’s (SOL) performance over the coming months. The platform anticipates SOL to continue its upward momentum, hitting $135.58 on May 11, 2026. Hitting $135.58 from current price levels will entail a rally of about 43.6%.
