SOL, Solana’s crypto token, has seen big changes in its rules. The U.S. SEC has changed its mind on Solana and other cryptos, making people more hopeful about the market.
Also Read: SEC Reset: Solana, ADA, MATIC Cleared in Binance Case
How the SEC’s Change Could Shape SOL’s Future
SEC’s Updated Complaint Against Binance
The SEC has updated its complaint against Binance, removing Solana (SOL), Cardano (ADA), and Polygon (MATIC) from its list of alleged securities.
This decision aligns with the court’s earlier ruling that BNB and BUSD secondary sales are not securities. Other tokens, such as Cosmos (ATOM), The Sandbox (SAND), and Axie Infinity (AXS), have also been cleared.
Market Implications
This big change could make the crypto world less confusing. It might also lead to more new ideas and growth.
Investment opportunities may expand, with the possibility of Solana ETFs and heightened interest from institutional investors. The market could see increased liquidity and trading volumes for affected tokens.
Also Read: Solana: $1.5 Trillion Asset Manager Bullish on SOL
Community Reactions
Crypto fans are happy with the SEC’s changes. A tweet from @zoomerfied got 1.3K likes. Some people even said they think SOL’s price will increase significantly.
SOL Price Predictions
Short-term outlook
- 5-day prediction: $184.26
- 1-month prediction: $209.98
- 3-month prediction: $189.94
Medium-term outlook
- 6-month prediction: $329.69
- 1-year prediction: $279.04
Long-term outlook
- 2025 prediction: $195.60
- 2030 prediction: $578.98 (high-end estimate)
Also Read: Solana: $1.5T Asset Manager Says SOL Will ‘Drive Crypto Forward’
Future Outlook for Solana
Solana’s future appears promising, with CryptoNews reporting:
“Solana has, seemingly, come back from the grave through 2023 and 2024, and is now one of the blockchains on everyone’s lips.”
Forbes also highlights:
“As of June 6, 2024, SOL is trading above $US170, a resurgence that reflects not merely market dynamics but also the underlying strength and improvements within the Solana network.“
Unfortunately, there are still problems to resolve. The ups and downs of the crypto market and unclear rules in other places could affect how SOL does.
As SEC Commissioner Hester Peirce stated:
“It’s a fundamental American principle that people are free to make choices. The government is not there to protect people from their own choices”.
The SEC might stop blaming Binance for issues with tokens like SOL. This big change could help Solana and other cryptos a lot. It could make more people use and invest in Solana.