6 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.

Solana price has enjoyed a remarkable surge following Donald Trump’s recent victory in the U.S. presidential election. Over the past month, SOL has seen an impressive gain of over 40%, reflecting a broader bullish trend in the cryptocurrency market. This strong performance has sparked optimism among investors, with many anticipating further gains in the near future. As market activity continues to be heightened, several factors could impact Solana’s price trajectory over the next 30 days.

6 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. As the Bitcoin price soars above the 90k mark, the market is experiencing a strong resurgence, which is also driving up the price of Solana. At the time of writing, the SOL price is trading at $215, showing a 3% surge in the past 24 hours. Here are 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. Gensler is widely seen as a figure who could pose challenges to the cryptocurrency industry, including Solana, which has faced legal action from the SEC.

However, in recent court filings, the SEC dropped the term “crypto asset securities” while expanding claims against exchanges that permitted trades of SOL, Solana’s native token. If Trump follows through on his promise, Solana could face less regulatory scrutiny, creating an environment that supports its growth.

Launch of Solana-Based ETFs

While Bitcoin and Ethereum ETFs have been approved by the SEC, Solana ETFs are still pending due to issues with classification. A crypto-friendly SEC chair could increase Solana’s chances of ETF approval, allowing more investors to access SOL.

Several companies, including Canary Capital, VanEck, and 21Shares, have filed for Solana ETFs, highlighting the interest in the market. The approval of these ETFs could bring more capital to Solana, boosting demand and driving up the price.

Network Upgrades and Developments

Solana is continuously working on improving its network’s scalability and security, which can influence the market value of the cryptocurrency. Successful implementation of upgrades or solutions to past network issues may positively impact the price.

Partnerships and Ecosystem Growth

Collaborations with other projects or the launch of new applications on the Solana platform can enhance the utility and attractiveness of the network, potentially boosting the price of SOL.

Robinhood Reintroduces Solana

Robinhood has expanded its U.S. crypto offerings by relisting Solana alongside other coins like ADA and XRP. This strategic move is intended to strengthen Robinhood’s position in the competitive crypto market, providing a broader range of options for investors.

By reintroducing Solana meme coins on a popular platform, Robinhood may increase engagement, which could lead to higher demand and have a positive impact on Solana’s price. This listing could attract new users and benefit existing Solana investors as market interest intensifies.

New U.S. Leadership

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