Wow, Apparently These Are 3 Reasons Solana Breaks Through $164!


"SOL if it goes up a lot too eh, are there any of you who buy this crypto?"

Unbeknownst to us, the Solana (SOL) cryptocurrency rallied up to $164 due to several recent developments in the digital asset space especially involving major platforms such as Robinhood, Infinex and MarginFi.

In an announcement on May 15 on social media platform X SOL, Vlad Tenev-led firm announced digital asset trading platform Robinhood Crypto will launch SOL staking feature in Europe.

Through the Robinhood Crypto application, customers can not only stake their SOL holdings but are also given the opportunity to earn rewards while maintaining the flexibility to cancel holdings as desired.

Robinhood Crypto also announced a bonus program for new customers, where they can receive a 10% bonus on their net purchases during their initial 30 days on the platform with the bonus issued in stablecoin USDC.

Please note that the Infinex decentralized permanent contract trading platform launched by Synthetix is also the cause of the SOL price surge, where they announced their support for SOL and its integration has opened up new opportunities for users.

In addition, Marginfi which is a decentralized portfolio margining protocol for trading on SOL has revealed the first Liquidity Layer L1 blockchain that offers natural staking results through LST.

As of this writing, SOL price has fallen back 1.25% to $161 in the last 24 hours with a market cap of over $72 billion but still posted a 4.80% jump over the past week.