The U.S. Securities and Exchange Commission (SEC) has officially classified Solana ($SOL) as a digital commodity, aligning it with Bitcoin and Ethereum. This decision, part of the SEC's "Project Crypto," aims to provide clarity on the regulatory status of cryptocurrencies, categorizing them into digital commodities, collectibles, tools, and tokenized securities. The SEC's move confirms that Solana, along with Bitcoin, Ethereum, XRP, Cardano, and Avalanche, derives value from decentralized protocols, thus not qualifying as securities. Solana's market activity reflects cautious investor sentiment, with $SOL trading at $89.22, a 4.97% drop in the last 24 hours, but a 3.90% gain over the past week. Despite recent declines, strong on-chain demand suggests a robust support range between $85.55 and $82.60, potentially paving the way for a rise towards the $100 level.
SEC Classifies Solana, Bitcoin, and Ethereum as Digital Commodities
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