Coinbase Wallet Adds Support for Solana

2022/05/07 21:48

Top U.S. cryptocurrency exchange Coinbase has added wallet support for Solana (SOL) and its Solana Token Ecosystem (SPL).

Coinbase said that investor interest in Solana has surged over the past 12 months as they look for low-cost alternatives to ethereum, a key reason they added support for the Solana network.

The expanded wallet support comes days after Coinbase launched Coinbase Pay, which enables users to fund their wallets directly through a web browser extension.

In a blog post published on March 18, Coinbase also roughly outlined plans for "further integration" with Solana, linking Coinbase wallets with decentralized applications (dApps) and NFTs hosted on the Solana network, which was championed by FTX CEO Sam Bankman-Fried.

Users of Solana-based wallets like Phantom and Solflare can now also import their existing wallets into Coinbase Wallet via a desktop browser extension.

Following the addition of the Solana network, Coinbase Wallet now supports the Ethereum, Avalanche, Polygon, BNB Chain, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, and Ripple networks. Coinbase says:

“Many users have been looking for scale-optimized networks that offer low-cost transactions and fast transaction times. Solana has been one of the fastest-growing blockchains over the past year.”

The Solana blockchain currently ranks fifth among decentralized finance (DeFi) protocols in terms of total value locked (TVL) at $6.94 billion, according to Defi Llama. NFT data aggregator CryptoSlam ranked it as the second-highest blockchain in secondary sales last month at $156.28 million.

Like most of the cryptocurrency market that has underperformed this year, SOL’s price is down 18% over the past 30 days, sitting at $85.90 at the time of writing. In the short-term, Cointelegraph's Rakesh Upadhyay has identified targets for SOL at $122 if the price breaks above the 20-day moving average at $86, or $66 if the market fails to support and sustain above this area.

Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG

Add Comment

LoginLeave your comments

0 Comments

Earliest

Load more comments

More news about coinbase wallet solana

Aug 19
Coinbase Wallet now supports OKX Web3 wallet
Bullish
Bearish
Apr 17
Coinbase Wallet Has Integrated Solana DEX
Bullish
Bearish
Aug 01
OKX Web3 Wallet has reached a cooperation with Solana Ecology to jointly launch Solana Ecological Week activities
Bullish
Bearish1
Feb 27
Coinbase L2 Network Base Plans to Integrate Coinbase Wallet and Coinbase Dapp
Bullish
Bearish
Feb 22
Coinbase Wallet Launches Coinbase Faucet, Allowing Users to Earn Free Testnet Tokens for Multiple Networks
Bullish1
Bearish
Dec 02
Coinbase Wallet: Apple Blocks NFT Sending from Its iOS Wallet
Bullish
Bearish
Sep 02
Coinbase Wallet Adds Malicious DApp Access Warning Feature
Bullish
Bearish
Aug 23
Coinbase Wallet Now Supports Connecting Solana DApps
Bullish
Bearish
Aug 16
Coinbase Wallet Integrates Block Explorer Etherscan
Bullish
Bearish
Aug 04
Magic Eden already supports connecting MetaMask, WalletConnect and Coinbase Wallet
Bullish
Bearish

Coinbase Wallet Adds Support for Solana

More news about coinbase wallet solana

More news about coinbase wallet solana

Solana's Phantom Wallet Update Glitch Cause Significant Losses For iOS users

Coinbase Wallet Launching Tap-to-Pay Soon – What It Means for Global Payments

Golden Web3.0 Daily | Coinbase Wallet launches free commemorative NFT

Coinbase Introduces Encrypted Messaging Feature to Crypto Wallet

Coinbase announces Wallet-as-a-Service product to simplify web3 onboarding

Coinbase Wallet Adds Safety Features Following High-Profile NFT Scams

Apple Blocks Coinbase Wallet Release on iOS

Trust Wallet Adds Support for Solana dApps

Ethereum Price Rises to $1,600 Amid Solana Network Hack

Coinbase Launches Web3 Mobile DApp, DeFi Wallet and Browser