SOL to $200?! 🤑 Stocks on Solana?!

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Now, listen here, folks! 👂 Seems that Kraken, a cryptocurrency emporium over yonder in the U.S. of A., is fixin’ to launch some tokenized versions of over 50 U.S. stocks and ETFs for them fellers and gals outside the States. They’re puttin’ these here tokens on the Solana chain. Why, it’s enough to make a feller think the SOL price is gonna shoot to the moon! 🚀

Some say this here addition of U.S. stocks and ETFs on Solana might just be the huckleberry to push that SOL price all the way to $200! In the last month, SOL has gone up about 25%, after barely escapin’ another tumble below $100. Can you imagine such a thing? 🤔

This newfangled offerin’ is called “xStocks,” mind you, and it’ll include shares of some mighty important names like Apple, Tesla, Nvidia, the SPDR S&P 500 ETF (SPY), and even SPDR Gold Shares (GLD). Fancy that! 🍎🚗💻💰

They’re aimin’ to make it available soon in places like Europe, Latin America, Africa, and Asia. Kraken plans to start rollin’ it out in the comin’ weeks. Mark my words, this could be bigger than sliced bread! 🍞

After the news broke, that there Solana native token, SOL, jumped up by 4.43% and is now tradin’ for $179. Why, it came up from an intraday low of $178.25, with about a 50% surge in tradin’ volume, accordin’ to CoinMarketCap. It’s enough to make a body’s head spin! 😵‍💫

Now, unlike them traditional stock markets that close up shop after regular hours, these tokenized stocks will be available for tradin’ 24 hours a day, seven days a week. Kraken’s gonna use the Solana blockchain to make this happen, so investors can buy and sell whenever their heart desires. It’s like a never-endin’ poker game, only with stocks! 🃏

Today we’re announcing our new partnership with @BackedFi for the launch of xStocks on @Solana 🚀@xStocksFi will offer tokenized versions of U.S.-listed equities, available soon to eligible Kraken clients in select non-U.S. markets.

A new layer of market access, built on…

— Kraken Exchange (@krakenfx) May 22, 2025

Kraken’s partner, Backed Finance, is gonna hold the actual shares of the stocks backin’ the tokens. That means for every token traded, there’s a real stock sittin’ behind it. The tokens can be exchanged for the cash value of these stocks at any time. This’ll keep the token prices close to the real stock prices. Ain’t that somethin’? 🧐

Customers might even be able to transfer their xStocks to other crypto exchanges or into personal digital wallets, where they can hold ’em like other cryptocurrencies. They might even use these tokenized stocks as collateral for crypto loans or tradin’ strategies. This could open up new doors for investors who want more wiggle room with their assets. The possibilities are endless, I tell ya! 🚪

However, this new offerin’ from Kraken is a bit like what Binance tried back in 2021 when they introduced tokenized stocks. But they had to shut it down because of regulatory issues. Seems Kraken is workin’ with regulators worldwide to make sure their offerin’ follows the law in each country. Better safe than sorry, I always say! 👮‍♂️

Moreover, the government is payin’ closer attention to tokenized equities, and blockchain technology could change traditional finance. The U.S. Securities and Exchange Commission recently held talks on this topic, with big companies like BlackRock and Robinhood supportin’ the idea. Seems like the world is changin’ faster than a Mississippi steamboat! 🚢

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2025-05-22 20:21