Solana surges ahead of asset’s Coinbase Pro debut next week

Solana surges ahead of asset's Coinbase Pro debut on May 24th
1 year ago
2 mins read

Decentralized computing cryptocurrency Solana (SOL) has surged in value after listing on Coinbase’s platform for professional traders, Coinbase Pro

By press time, SOL was trading at $47.14, surging 9.16% in the last 24 hours, with the market cap surpassing $12 billion.  Between May 13 and May 20, SOL’s value surged 20.22%, with an all-time high of $53.84 on May 18. 

SOL price performance, last 7 days. CoinMarketCap

Through a statement, Coinbase noted that investors would start trading the asset from Monday 24th. However, the platform is already accepting inbound SOL transfers ahead of the trading. 

Coinbase Pro added that the pairs of  SOL-USD, SOL-BTC, SOL-EUR, SOL-GBP, and SOL-USDT order books would be unveiled in three phases, including post-only, limit-only, and full trading. According to Coinbase Pro:

“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”

Coinbase Pro to list more assets

With the addition of SOL, Coinbase maintained that the platform is still exploring additional assets that meet listing criteria. However, SOL is not yet available on the main Coinbase.com platform alongside other consumer mobile apps. 

Solana’s underlying goal is to improve blockchain scalability by leveraging proof-of-stake consensus and proof-of-history

Solana protocol is a product of Solana Labs, with support from investors including Multicoin Capital, Slow Ventures, Foundation Capital, 500 Startups, and Abstract Ventures.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.