Robinhood Launches SOL Staking in Europe

Cryptocurrency exchange Robinhood has recently announced that Solana (SOL) staking is now available for European customers. This means that clients can stake their SOL tokens directly through the Robinhood application and earn rewards for doing so. The flexibility to unstake tokens at any time is also a key feature of this new offering.

Johann Kerbrat, VP and GM of Robinhood, expressed that the demand for local language support and products that provide additional passive income has been clear from their European customers since the launch. He emphasized that Robinhood Crypto aims to offer a tailored in-app experience that meets specific needs and supports customers on their financial journey.

With Solana staking now live in Europe, there is speculation that clients will be attracted to purchase SOL tokens in order to participate in staking and earn passive income. This increased demand may lead to a surge in SOL purchases, potentially driving up the price of the cryptocurrency.

According to projections by CoinCodex, Solana (SOL) is expected to maintain its current trading levels in the coming weeks but could see a growth of about 12.8% to reach 2.62 by June 7, 2024. Similar forecasts from Changelly also suggest that SOL will trade around current levels through the month and could climb to 6.43 by the same date.

Overall, the introduction of Solana staking on Robinhood’s platform has sparked interest among European customers and may influence the price of SOL in the near future. Investors will be closely monitoring these developments to capitalize on potential opportunities presented by staking on the popular exchange.