Robinhood Crypto has introduced the introduction of a Solana-staking product in Europe, accompanied by a bonus program for brand spanking new clients. 

This growth comes as the corporate faces elevated tensions with US regulators, which may probably result in authorized repercussions. Nonetheless, the transfer has propelled Solana’s (SOL) value to surpass the essential $150 level, indicating a return of bullish momentum available in the market.

Solana Staking And Crypto Rewards

In line with the announcement, Robinhood unveiled new options for its European clients. These choices embrace staking, localized purposes, and crypto rewards. 

As a part of its growth, Robinhood has launched its first crypto-staking product solely for European clients. By way of the platform, customers can stake their Solana holdings and earn rewards with the power to unstake their property at any time. 

Moreover, new clients can obtain a ten% bonus on their internet purchases throughout their first 30 days on the platform, with the bonus paid out in Circle’s USDC stablecoin. This initiative goals to draw new customers and enhance their crypto investing expertise.

Associated Studying

Whereas Robinhood Crypto expands its choices in Europe, the corporate faces regulatory challenges in the US. The US Securities and Alternate Commission (SEC) has issued a Wells Discover to the alternate, indicating the workers’s advice for an enforcement motion in opposition to the platform. 

Robinhood expressed disappointment within the SEC’s determination, emphasizing their efforts to hunt regulatory readability and asserting their perception that the listed property on their platform aren’t securities.

Vlad Tenev, the CEO of Robinhood, revealed that the corporate has held over 16 conferences with the SEC. Nonetheless, these interactions have been largely unsatisfactory, in accordance with Tenev. He expressed the corporate’s willingness to have interaction with the SEC in good religion however famous the regulatory physique’s lack of reciprocal efforts.

SOL Bulls Eye $200 As Buying and selling Quantity Rises

Solana’s native token, SOL, skilled a big rebound prior to now hour, surging from the $140 zone to its present trading value of $153. This value motion holds key significance for bullish buyers as they goal to retest the $200 mark beforehand surpassed in March. 

CoinGecko knowledge additional reveals a notable improve in SOL’s trading quantity, reaching $2.7 billion within the final 24 hours, representing a 6.6% rise in comparison with the earlier Monday’s trading session.

Associated Studying

In line with crypto analyst Jesse Olson, Solana has proven power in its latest value motion. Olson notes that Solana efficiently hit all 4 draw back targets and exhibited bullish divergence, adopted by hitting three upside targets. 

The value seems to type a higher low, growing the chance of reaching “goal 4,” projected on the $175 mark.

The every day chart exhibits SOL’s value rebound above the $150 level. Supply: SOLUSD on TradingView.com

Regardless of the bullish momentum, SOL faces essential resistance partitions at $157 and $172, that are anticipated to be vital obstacles towards higher value ranges. 

However, the $140 line has served as a key assist level for Solana’s value over the previous week. SOL’s bullish momentum stays unsure because it strives to beat these resistance ranges and retest its yearly high of $209.

Featured picture from Shutterstock, chart from TradingView.com