Two small market cap altcoins built on Solana (SOL) enjoyed satisfying gains after a surprise listing from Coinbase.
The top cryptocurrency exchange in the United States has suddenly announced that it will accept incoming transfers from Solana-based projects Bonfida (FIDA) and Orca (ORCA). Last week, sources close to the stock market stated that these listings would take place.
Bonfida (FIDA)is a project built on both Solana and Solana-based Serum (SRM), not intended to be an all-in-one platform for data-driven crypto traders. Its platform focuses on metrics such as stock market statistics, crypto company review and rating, crypto trends, and more.
Inbound transfers for Bonfida (FIDA) and Orca (ORCA) are now available on @Coinbase and @CoinbaseExch in the regions where trading is supported. Trading is not enabled at this time. Trading will begin on or after 9AM PT on Tuesday, February 1, if liquidity conditions are met. pic.twitter.com/0dtwx0CcgD
— Coinbase Assets (@CoinbaseAssets) January 31, 2022
Bonfida also aims to create a platform for solutions for a decentralized name service and an NFT exchange in Solana. The project’s governance token, FIDA, can be used to vote on the future of the protocol.
Following the listing announcement from Coinbase, FIDA rallied from around $2.15 to $2.75 before experiencing a correction. The Solana ecosystem token is still recovering and trading at $2.52 after a massive 86 percent drop from its all-time high of $18.77 in November.
In the same announcement, Coinbase aims to be the most user-friendly decentralized exchange (DEX) in Solana. Orca (ORCA) announced that it will list Orca is a general purpose automated market maker (AMM) on the Solana blockchain that allows users to trade their tokens, place bets and earn returns.
Following the Coinbase listing, ORCA rose from about $3.51 to $4.16, with a quick 18 percent instant gain. ORCA is up over 62 percent weekly at the time of writing, and over 8 percent in the last 24 hours.
Coinbase’s listing of Solana-based projects, as KoinFinans stated last week; It came after a report that the platform will list a new asset class from the Ethereum rival ecosystem. Sources say that the stock market is expected to launch Solana’s smart contract token standard in the coming days. Solana Program Library (SPL) He stated that he plans to list his altcoins.
The listing of Solana ecosystem tokens on the platform for the first time also contributed to the platform’s native token. at the time of writing Left (LEFT) It is trading at $109.94, up 20 percent from last week and more than 11 percent over the last 24 hours, but despite this rise, it has dropped significantly from its all-time high of $260.
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.