The price of a Solana (SOL)-based altcoin skyrocketed after gaining support from US-based digital asset exchange Coinbase.
Coinbase, the leading US digital asset exchange, announced 2 days ago that it will add two Solana (SOL)-based crypto projects to its list of supported altcoins. a current in the announcement announced that it has started trading services for these two altcoins. The altcoins mentioned are: Marinade (MNDE) and Marinade Staked SOL (mSOL).
Coinbase has implemented the two altcoins for “assets that are new to the platform or have relatively low trading volume compared to the broader crypto market.” “Experimental Label” (Experimental entity) added to the platform with the tag.
“Marinade (MNDE) and Marinade Staked SOL (MSOL) are now live on coinbase.com and on the Coinbase iOS and Android apps under the Experimental tag. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
Koinfinans.com As we reported earlier this year, Coinbase CEO Brian Armstrong said that the exchange aims to add support for as many altcoins as possible as long as they meet core security standards. It seems that the stock market continues to work to achieve this goal.
MNDE, the management token of the liquid staking protocol Marinade Finance, which helps maintain decentralization in the Solana ecosystem, has increased by 244.92% in the last 24 hours. The crypto asset is trading at $0.26 at the time of writing.
Altcoin mSOL, which is issued to those who stake SOL tokens on the Marinade protocol and can be used for decentralized finance (DeFi) activities, has increased by 1.21% in the last 24 hours. It is currently trading at $34.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.