- The US Securities and Exchange Commission (SEC) classified several cryptocurrencies as securities, causing panic among investors and leading to a market crash.
- SEC’s classification has created concern and uncertainty among investors, leading them to quickly get rid of these tokens in their portfolios.
- SEC’s classification of Solana as an unregistered security has increased concerns among investors and traders.
Solana, a blockchain platform known for its speed and scalability, experienced a significant drop after SEC’s regulatory actions.
SOL Lost Over 30%
In a recent development, the US Securities and Exchange Commission (SEC) classified several cryptocurrencies as securities, causing panic among investors and leading to a market crash.
SEC’s classification has created concern and uncertainty among investors, leading them to quickly get rid of these tokens in their portfolios. Solana, among these tokens, was sold in the market, causing a Solana price crash that led to a drop of over 30% in the last 7 days.
Solana, a blockchain platform known for its speed and scalability, experienced a significant drop after SEC’s regulatory actions. Solana’s price fell to $13.21, a drop of over 30% from the previous week.
Solana Price Prediction: Where Will SOL Price Reach?
SEC’s classification of Solana as an unregistered security has increased concerns among investors and traders. The fear of limited trading opportunities due to exchanges avoiding SEC-labeled tokens has contributed to downward pressure on Solana’s price.
Experts predict a further drop of $10-12 in Solana’s price, increasing uncertainty around the cryptocurrency.
SOL/USD Daily Price Chart
Solana’s development team and community are actively working to address regulatory challenges and regain market confidence. However, until clarity is provided on SEC’s stance and required compliance measures, Solana’s price may continue to face downward pressure.
