US Bank Regulator Approves Crypto Trading Services; Solana and Ethereum Price Analysis

Source: Coinomedia Original Title: Solana Price Prediction: US Bank Regulator Clears Banks To Intermediate Crypto Trades, DeepSnitch AI Presale Aims for $1M With Early Development Original Link: https://coinomedia.com/solana-price-prediction-us-bank-regulator-clears-banks-to-intermediate-crypto-trades-deepsnitch-ai-presale-aims-for-1m-with-early-development/

Regulatory Breakthrough for Crypto Banking

The key US Banking regulatory body revealed that national banks are allowed to intermediate crypto trades without holding the assets on their balance sheets. This move will allow traditional financial institutions to offer fully-regulated cryptocurrency brokerage services.

On December 9, the US Office of the Comptroller of the Currency released an interpretive letter that provides banks with the authority to intermediate crypto trades without holding the assets. National banks can act as principals in trade while entering an offsetting trade with another party, similar to how riskless principal activity operates in traditional settings.

As customers will now be able to transact crypto through regulated banks, financial institutions can now fulfill roles as brokerages. Banks are required to confirm the legal permissibility of crypto transactions, ensuring they are compliant with their chartered powers and must maintain procedures for monitoring market, compliance, and operational risks.

Market Recovery and Token Movements

The crypto market started its long-awaited recovery following weeks of subpar performance. Solana price prediction sparked hopes of recovery as the coin started surging toward $140 on December 9. Other altcoins are logging solid performance, which extends to presales as well.

Solana Price Analysis

According to market data, SOL tested the $140 level on December 9. However, despite SOL investor sentiment improving, the selling pressure is still mounting as analysts point out that SOL needs to reach trading volumes close to $10B to make more confident moves.

To ensure a bullish SOL long-term outlook, Solana will also need to reach $160, which will reverse the downtrend, followed by a surge toward $200. Ultimately, the Solana price prediction has its positive sides, but it’s worth pointing out that the Solana ecosystem momentum is slowing down as the meme coin sector continues its decline.

Ethereum Market Position

Ethereum traded in the $3.3K area on December 9. At face value, ETH was a solid performer in early December. However, Ether supply on CEXs has fallen to the lowest level in a decade, which could boost scarcity and result in a huge rally.

Analysts believe Ethereum could reclaim $5.5K, retracing its all-time high and starting discovery in a massive 60% price move. Some traders are even more bullish, anticipating a 200% pump toward $10K.

Early-Stage Project Activity

One presale project reached $730K in funding, moving closer to its $1M milestone. The uptick in investment coincides with the project deploying three AI agents from its analytics suite ahead of the anticipated January launch, which sparked a multitude of growth predictions for the associated token.

With a current price point, investing in such presale projects could yield significant returns if bullish predictions come true. These early-stage projects are bustling with activity, partially due to their upside potential compared to established cryptocurrencies.

Key Takeaways

The approval of regulated crypto trading services by US banks represents a significant step toward institutional adoption. Major cryptocurrencies are showing signs of recovery, with Solana and Ethereum presenting potential breakout scenarios. Early-stage projects continue to attract investor interest, particularly those with demonstrated technological development and utility-focused use cases.