Before its planned debut on Coinbase Pro, Solana is available on trading platforms such as Binance, Huobi Global and FTX Derivatives Exchange, among others.
Solana (SOL), a renowned blockchain network that aims to reduce the dominance of Ethereum, is launched on the professional trading platform Coinbase Pro. After the earlier delay in the introduction of the SOL tokens due to technical issues, Coinbase Global Inc (NASDAQ: COIN) has officially announced the resumption of deposits for the SOL cryptocurrency in all jurisdictions supported by the exchange.
The debut of cryptocurrencies and tokens on major trading platforms is in the spotlight of any project with native assets. The introduction on exchanges increases the general acceptance and utility of the token. This contributes to the projected growth of the blockchain protocol and keeps its ecosystem functional. Coinbase has been backed by a growing number of projects lately, with the recent listing or addition of Chiliz (CHZ), Keep Network (KEEP), and Shiba Inu (SHIB). These listings, along with those from Solana, meet user requirements.
According to Coinbase’s announcement, SOL will begin trading on or after 9:00 a.m. Pacific Time (PT) on Thursday June 17th, provided the required liquidity conditions are met -USD-, SOL-BTC-, SOL-EUR -, SOL-GBP and SOL-USDT order books, which will be introduced in three phases including post-only, limit-only and full trading.
Orderly trading activity is required to accelerate the transition from one phase to the other, but there is no defined timetable for it. Should this condition not be met, the exchange can keep the book in one state for a longer period of time or suspend trading according to its clearly defined trading rules.
About Solana and the Coinbase Pro attractions
Solana is a functional and decentralized computing platform that SOL uses to pay for transactions. As a blockchain platform, Solana has a permissionless nature to provide decentralized financial solutions (DeFi) to a growing number of DApps, promises scalability and offers a lower fee model compared to existing competitions.
The scalability guaranteed by Solana is made possible by a combination of proof of stake consensus and so-called proof of history. Based on these technologies, the blockchain platform can process up to 50,000 transactions per second while maintaining its decentralization model.
Solana was founded by Anatoly Yakovenko and Greg Fitzgerald, both of whom work for the American technology company QUALCOMM Inc (NASDAQ: QCOM). The Solana blockchain is reassuring for both retail and business and has been the underlying framework for several decentralized applications including Serum, Terra, and Audius.
Before its planned debut on Coinbase Pro, Solana is available on trading platforms such as Binance, Huobi Global and FTX Derivatives Exchange, among others.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real world applications of blockchain technology and innovations to drive general adoption and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and websites. Benjamin Godfrey loves sports and agriculture.
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