Solana Price Drops 18% as SEC Scrutiny Hits Staking ETFs

June has just started, and Solana’s price is struggling near an area of ​​resistance, and during the intraday session, it bled 3%, faced with the rejection of the EMA band of 50 days.

The scholarship intensified when May 30, May 30, raised shocking concerns concerning the legality of two proposed stakes of a company known as Rex shares and Osprey funds.

This shock has stopped investor activity, and even derivative data experienced a decline, including total solo and financing rates. The growing pessimism indicates that the short -term market goes south until the bullish forces intervene.

Dry has put questions about Rex actions and stammering funds

The American sec, on Friday, May 30, said that 2 ETF had been deposited for an “ETF of jealization” which would allocate capital in Solana and Ethereum. As the recent SEC decision has raised concerns concerning their recording and its potential eligibility for registration on exchange.

The Associate Director of the SEC, Brent J. Fields, stressed that for the fund, the commission still has “unresolved questions”. He added that the SEC is concerned about whether the products would be considered as legitimate investment companies under the 1940 investment companies Act.

Consequently, the activity of the merchant decreased, pushing the Solana price to the south. SEC worries have resulted on the market, which affected the soil negatively; Its “Total OI in USD” decreased to $ 2.87 billion compared to $ 3.20 billion, and “Total Funding rate” fell to “-0.0044%” of “+ 0.0033%”.

However, despite the recent uncertainty observed, polymarket, the ratings of an approved Solana FNB has climbed more than 80%, which clearly means that the long -term tone of the market remains optimistic.

• Read also:
• James Wynn returns with a 100 million dollars Bitcoin bet after abandoning hyperliquid perps
• ,,

What to expect from Solana Price in June?

The Solana price was 18% in mid-May at writing at $ 153.19 from $ 187.19. The ongoing challenges like the recent meticulous examination of the dry and its derivatives fall, show that it aims for the momentum to the south in the short term.

The recent rejection on the daily graph of the 50 -day EMA is obvious that the bears are active and put pressure for a decreased momentum. Losing the end of the round number closest to $ 150 could lead to a drop to $ 140 and even $ 120, which is a solid medium for several months.

Faq