• Solana [SOL] price rallied 30% following news of Ripple [XRP] partially winning its legal battle with the U.S. SEC
• Anatoly Yakovenko suggests using Ethereum [ETH] as a layer-2 for the Solana blockchain
• Vitalik Buterin shows support for projects like Solana, which are being targeted by the SEC
Solana Price Rallies Following U.S. Court Ruling
The price of Solana [SOL] rose nearly 30% following the news of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC) on 13 July. The court ruled that the sale of XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case.
Solana Labs Co-Founder Agrees To Use Ethereum As Layer-2 For Solana Blockchain
Solana Labs co-founder Anatoly Yakovenko seems to be in agreement with the idea of using Ethereum as a layer-2 for the Solana blockchain. He tweeted “Would it be possible for ethereum to be a @solana L2? Probably more likely than you might think at first glance.“
Vitalik Buterin Shows Support For Projects Like Solana Targeted By The SEC
Ethereum founder Vitalik Buterin is an admirer of the Solana protocol and has expressed regret over how regulators are targeting such projects when he tweeted “The one comment I’ll make is that I feel bad that @solana and other projects are getting hit in this way.“
GPT Predicts Bullish Rally For SOL
I asked ChatGPT to predict SOL’s performance in Q3 2023 and it predicted an optimistic rally, in line with what metrics were indicating.
With leading figures from both Ethereum and SOL showing support for the project, investors should take this opportunity to capitalize on bullish sentiment surrounding SOL before prices start going back down again later this year or early next year.