Coinbase and Solana

The crypto trading app giant seeks to broaden its horizons

by Richard L. Jan.28, 2022

If you know crypto then you know of Coinbase, one of the biggest trading platforms currently. The leading trade platform is currently in plans to introduce more tokens from the Solana blockchain during 2022.

The crypto exchange has plans for withdrawals of Solana Program Library tokens, which are the answer to Ethereums ERC-20. There is also talk of adding the Solana native USDC to the fray as well. The Solana USDC currently has over $4.8 billion in circulation, while TRON has over 7 Billion and ETH has over $49 Billion in circulation at the time of this writing.

As usual, Coinbase has declined to comment on the actual possibility but that is always the case when something is speculated or when they are not ready to release to the public. Keep in mind that the main goal, stated by the CEO of Coinbase, is to list every legal asset.

It is wise to keep in mind the youth of Solana at this point and the issues that are arising with the blockchain currently as those are situations that could make or break the current plans.

Solana’s biggest token at the moment is SRM held by the Serum protocol, SRM is currently over $280 Million. If indeed the plans of Coinbase are true then that will open the market to even more investors and retail buyers and push Solana further up possibly.

In the meantime it is best to take all this news with a grain of salt as none of it has been completely confirmed but the idea and the possibility cannot be ruled out. Both platforms would benefit greatly from this move and we all know Solana surely needs a win.

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