Before answering the question of how much Solana coin can be worth in Turkish Lira, let’s discuss a matter regarding SOL. Crypto investors will remember that Robinhood delisted Solana from its trading platform in late June, citing regulatory concerns. The potential implications of its relisting are now being discussed.
A New Catalyst for Solana Coin Price
Robinhood’s relisting of Solana could serve as a catalyst for future gains. Over the past few months, Solana coin has experienced significant growth, with a staggering 88% increase in price within 30 days. Since the beginning of the year, the price has risen by 437%.
After this triple-digit surge, everyone is now talking about whether the price of Solana coin will continue to rise. In this regard, the relisting of Solana on Robinhood could potentially increase the price of SOL. There are two reasons for this.
Eliminating Regulatory Uncertainty
First and foremost, Robinhood’s relisting of Solana coin can help eliminate some of the regulatory uncertainty surrounding SOL. In June, Robinhood delisted Solana as a result of the Securities and Exchange Commission (SEC) classifying it as an unregistered security.
Robinhood did not want to enter into a conflict with the SEC, so it delisted Solana. It should be noted that there is currently no indication of a relisting for Solana. However, it is evident that an approach that assumes it will never happen is not correct.
Return of Individual Investors
If Robinhood relists Solana, there will be an increase in the number of individual investors. Currently, Solana’s price can be seen on Robinhood, but trading is not available.
Considering that Robinhood has over 10 million users, a relisting would strengthen the possibility of a rally for Solana.
Will Robinhood Relist Solana?
There are definitely reasons to believe that relisting is possible. In the presentation of Robinhood’s latest quarterly earnings report, CEO Vlad Tenev mentioned that once the SEC provides additional regulatory clarity, relisting Solana could be a possibility. He did not specify any specific conditions for Solana’s return, but he did not completely ignore the possibility.
There is a good reason for Robinhood to consider relisting Solana: the addition of a “hot” cryptocurrency like Solana would revitalize Robinhood’s crypto trading platform.
The figures announced by the company at the beginning of November were not very promising. Crypto trading revenue was down 55% compared to the previous year, and the monthly active user count had decreased by 16%. All these developments could lead to the relisting of Solana coin.
How Much is Solana Coin Worth?
When answering the question of how much Solana coin is worth in Turkish Lira, it is important to keep in mind that prices fluctuate in real-time. At the time of writing this article, Solana coin is trading at 1,649 TL.
Solana reached its peak in Turkish Lira in December 2021, when it reached 3,361 TL.