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These agencies are the Financial Services Regulatory Authority (FSRA), the Virtual Asset Regulatory Authority (VARA), and the Dubai Financial Services Authority (DFSA). Google's (NASDAQ: GOOGL ) new rules come into effect on February 26 and will apply globally to all accounts that advertise cryptocurrency financial products in the UAE.

Google reported that the UAE has become one of the leading crypto hubs in the Middle East, with more than 30% of the population owning cryptocurrency. The popularity of digital assets and their investment appeal has increased significantly after the announcement that the UAE sovereign wealth fund Mubadala invested $436 million in BlackRock's Bitcoin ETF.

According to Google analysts, the monetary volumes for promoting and advertising crypto companies and exchanges in the UAE can vary from $500,000 to $20 million per year per advertiser, depending on the scale of the business. The overall cryptocurrency advertising market in the UAE can reach $50-100 million per year. This includes expenses on digital advertising (Google Ads, social networks), local partnerships, sponsorship of events (for example, Crypto Expo Dubai), as well as PR campaigns.

Earlier, an amendment came into force in the United Arab Emirates on the exemption from value added tax (VAT) for all cryptocurrency transactions of individuals and legal entities.

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Solana (SOL) has lost 6.9% over the past 24 hours, falling to a low of $165, its lowest since mid-December.

This decline is due not only to Bitcoin's plunge into the $93,000-94,000 range, but also to the scandal with the LIBRA memecoin based on this blockchain.

Solana 7-day price chart. Source: CoinGecko

To bring clarity to the future of SOL, the AI-powered forecasting tool has updated its price forecast for the crypto asset. Taking into account technical indicators and market data, the model predicts an average price of SOL on March 1 at $170.38.

Solana AI Price Prediction

The most optimistic forecast, offered by GPT-4o, is for an 11.48% gain to $190. This scenario is dependent on increased Solana network activity, growing interest in a potential Solana ETF, and a recovery in the overall crypto market.

Claude 3.5 Sonnet has issued a bearish forecast, predicting a 10.09% drop in SOL to $153. The downgrade is based on weakening network metrics, including a 55% drop in active addresses since November and a drop in transaction volume.

Additionally, the Solana network is gearing up for a major token unlock, which will see 15 million SOL, worth $7 billion, enter circulation between February and April. If demand fails to absorb the increased supply, SOL will face increased selling pressure in the coming months.

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