Donald Trump has promised to fire Gary Gensler, current chairman of the SEC. Regulatory changes in 2025 could benefit solana. Solana (SOL), the native cryptocurrency of its eponymous network, has once again captured the market's attention by breaking the $200 barrier. Driven by expectations of a more favorable regulatory environment in the future, SOL has experienced a significant increase in its pricepositioning itself near its annual highs. This increase, combined with the possible arrival of regulatory changes in the United States, has strengthened confidence in the cryptocurrency and consolidated its position in the market. In the last 24 hours, The price of SOL has increased by 8%, taking its price to $204. With this rebound, solarium is approaching its annual high of $209 reached in April. However, SOL is still 22% away from its all-time high of $260, achieved in November 2021, as you can see in the TradingView chart below.
SOL price. Source: TradingView. This rebound in the value of SOL has allowed the cryptocurrency to climb positions, reaching fourth place in market capitalization with 96 billion dollars, displacing BNB, Binance's cryptocurrency, according to data from CoinMarketCap. At the same time, bitcoin (BTC) has also broken records, surpassing $76,000 this weekwhich has had a positive impact on the rest of the market and has boosted the rest of the crypto assets.
Regulatory obstacles that solana has faced
Despite its recent success, Solana faces significant obstacles related to regulation in the United States. In 2023, the United States Securities and Exchange Commission (SEC) classified SOL as a security in its lawsuit against the Binance exchange, as reported by BitcoinDynamic. The SEC Argues There Are Indications SOL Acts Like a Solana Labs Stockthe organization behind its development, which, according to its rules, subjects it to regulation by that body. In an update to the lawsuit, the SEC has indicated that it plans to seek permission to amend its indictment and, for the time being, will not insist on a judicial determination of whether SOL and other cryptocurrencies are securities. This temporary pause could be a respite for solana and other cryptocurrenciesas the market adjusts to possible regulatory changes on the horizon.
2025 looks promising for solana
The outlook for solana and other cryptocurrencies could change radically in 2025, the year in which expectations of favorable changes in regulation have gained strength after the recent victory of Donald Trump in the presidential elections of November 5. Trump, who will take office in January, focused much of his campaign on offering the elimination of restrictive policies for the cryptocurrency sector in the United States. Among his promises stands out the dismissal of Gary Gensler, president of the SEC, who has been one of the biggest opponents of the advancement of the cryptocurrency industry. Trump was critical of Gensler's approach and has promised regulation that he said would be fairer and more favorable to the industry. In the days after his election, Trump's team already shuffling names to replace Gensleramong whom is Dan Gallagher, current legal director of the Robinhood exchange and former SEC commissioner, according to Reuters. Gallagher is seen as an attractive option by cryptocurrency company executives who have financially backed Trump's campaign. Markus Thielen, CEO of 10x Research, noted that it is likely Gensler resigns in the transition processwhich would allow Trump to appoint someone aligned with his goals to the SEC. Thielen explained that, following historical patterns, Gensler could resign at the end of this year or early next year, and a new SEC chairman could be in place in April or May 2025. Thus, with the support of a more receptive government towards the cryptocurrency sector, solana and other other assets like BTC face an encouraging scenario for next year. The possible change of approach in US regulation could give them new impetus, consolidating the positioning of assets like SOL, which has already demonstrated a notable capacity for growth amidst regulatory challenges and market behavior.