Before evaluating Solana Coin (SOL), it is important to note that Robinhood removed Solana from its trading platform at the end of June due to regulatory concerns and is now considering relisting possibilities.
Robinhood’s relisting of Solana could potentially increase the price of SOL. In the past few months, Solana has experienced a phenomenal price increase of 88% within 30 days and has risen by 437% since the beginning of the year.
Relisting Solana on Robinhood could eliminate regulatory uncertainties. In June, Robinhood delisted Solana as it was classified as an unregistered security by the U.S. Securities and Exchange Commission (SEC).
If Robinhood relists Solana, there may be an increase in individual investors. Currently, the price of Solana can be observed on Robinhood, but trading is not possible.
Robinhood’s CEO Vlad Tenev mentioned that relisting Solana could be possible when the SEC provides additional regulatory clarity. The figures announced by the company in November were not very promising; crypto trading revenues decreased by 55% compared to the previous year, and monthly active user count dropped by 16%. These developments could pave the way for the relisting of Solana.
It should be noted that the value of Solana Coin in Turkish Lira fluctuates in real-time. At the time of writing, Solana Coin was trading at 1,649 TL and reached its peak at 3,361 TL in December 2021.