Popular cryptocurrency exchange Robinhood has announced that Solana (SOL) staking is now live for European customers. According to the announcement, clients can stake their SOL tokens directly via the Robinhood application. Users can earn rewards for their staked tokens and can unstake them at any time.

Announcing a few new updates to Robinhood Crypto

First, Solana ($SOL) #staking is now live for eligible European customers This allows customers to earn staking rewards on their $SOL holdings with the flexibility to unstake at any time.https://t.co/yioQfCHT2n
/1 pic.twitter.com/J6cH0PMDC6

— Robinhood Crypto EU (@RobinhoodCrypto) May 15, 2024

According to Johann Kerbrat, VP and GM of Robinhood, ‘Since launching at the end of last year, our customers in Europe have told us loud and clear that they want an app that provides local language support and products that help them earn additional passive income.’

Also Read: Pepe Passes Solana & DOGE in Daily Volume Amid ATH Rally

Kerbrat further added, ‘Robinhood Crypto is already one of the lowest cost places to trade on average with an easy-to-use interface that prioritizes education. Today’s news is a significant step forward in our mission to offer customers a more tailored in-app experience that meets their specific needs and helps them on their financial journey.

Will Solana (SOL) see a price bump?

Source – CoinCentral

There is a possibility that clients in Europe will line up to purchase SOL tokens. Staking could be what clients who want a passive income are looking for. Hence, the opportunity may lead to a rise in SOL purchases, thereby leading to a price increase.

Also Read: From Solana to Riches: Here’s How This Trader Scored 32X Profit

According to CoinCodex, Solana (SOL) will continue to trade at current levels for the next few weeks. However, the platform anticipates SOL to rise to $162.62 on June 7, 2024. Hitting $162.62 from current levels would translate to a growth of about 12.8%.

Source: CoinCodex

Changelly also paints a similar picture for Solana (SOL) over the next few weeks. The platform anticipates SOL to trade at around current levels for the rest of this month. However, Changelly expects SOL to rise to $166.43 on June 7, 2024.


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