Coinbase Pro Announces Listing of Solana (SOL), Trading Starts Monday

May 21, 2021, 8:00 PM AEST - 2 months ago

Major cryptocurrency trading platform Coinbase Pro announced Thursday it’s listing the native digital currency of Solana blockchain, SOL trading is expected to commence next week. 

Solana Bags Coinbase Pro Listing

Coinbase Pro opened an inbound transfer for the cryptocurrency on Thursday, meaning users can start depositing SOL to the exchange head of trading date. If all liquidity conditions for SOL are met, Coinbase Pro will commence the trading at precisely 9 AM PT on Monday. 

The exchange will support the following trading pairs for the coin.

  • SOL-USD
  • SOL-BTC
  • SOL-EUR 
  • SOL-GBP
  • SOL-USDT

The Solana blockchain is a decentralized network aiming to address the issue of scalability by combining proof of history and proof of stake consensus models. The network reportedly processes about 50,000 transactions per second while still maintaining its decentralized property. 

SOL listing on Coinbase Pro is coming some days after the CEO Brian Armstrong said they would accelerate the time it takes to analyze and list new coins for trading on their platform. This followed their announcement to list Dogecoin (DOGE), with Armstrong adding that “the proliferation of alternative coins, including Dogecoin and Binance Coin, is a challenge because competitors support them, and Coinbase doesn’t.”

Coinbase Pro said they would issue a separate report when SOL lists on its exchange Coinbase.com and mobile apps.  

SOL Price Update

Over the past few days, SOL has been trending on Twitter. At the time of writing, SOL was trading at $47.96 USD on CoinMarketCap, which is about $10 USD below its all-time high of $58.30 USD. The circulating supply of SOL accounts for over $13.1 billion in market capitalization.

Solana Price Chart. Source: CoinMarketCap

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