Solana (SOL) has been on the tip of many crypto enthusiasts’ tongues lately and with good reason. The vibrant ecosystem, strong partnerships, and a skyrocketing SOL price have given investors plenty to mull over. Here are four (new) reasons why you should lend Solana your attention.
#1 Solana And The US Regulatory Landscape
Solana’s prospects in the US seem to be intertwined with unfolding regulatory decisions. Vibhu Norby, founder of Drip Labs, today shared notable and positive insights from a recent Crypto Policy Bootcamp, tweeting, “Takeaways from Crypto Policy Bootcamp in D.C. … Most agreed Gensler is an outlier, lots of folks in Congress support crypto and clear rules, and everything is going to be fine. Just slow.”
This suggests a broader acceptance and understanding of crypto within the legislative chambers. One of the key points Norby highlighted was the collaborative efforts between the Solana Foundation and Polygon Labs. He shared, “Solana Foundation and Polygon Labs are working together (!) to secure better policy.”
Norby also touched upon the ongoing lawsuit between the SEC and Coinbase, asserting, “SEC vs. Coinbase is the most important case right now in the US. A few opinions from smart lawyers think Coinbase probably wins against the SEC before Q2 next year. But nobody knows of course.”
The ramifications of this case could have broad implications, especially for tokens like Solana (SOL) that have been pulled into regulatory scrutiny. Given the SEC’s allegations against Binance and Coinbase for selling unregistered securities, including SOL, a favorable outcome for Coinbase might positively impact Solana’s standing in the US and ultimately its price trajectory.
#2 Solana’s Potential Blue-Chip Evolution
The constant comparison between Ethereum and Solana has given rise to debates in the crypto sphere. However, the increasing attention Solana has garnered, especially from venture capitalists (VCs), has lent credence to the belief that it might soon join the ranks of blue-chip assets.
Raj Gokal, co-founder of Solana, recently hinted at a shifting attitude amongst VCs towards Solana. In response, Chris Burniske, analyst and partner at Placeholder VC, predicted a change in perception among VCs – moving from avoidance to eagerness in investing in Solana projects.
Burniske further confirmed a user’s query regarding Solana’s potential to attain Ethereum-like prominence, suggesting that…