Coinbase announced that it is launching Solana (SOL) on Coinbase Pro. Customers can transfer Solana into their account starting today and trading will be available on May 24.
How it will be listed
The listing will start with Coinbase pro accepting inbound transfers of SOL to their platform. Once a sufficient supply of SOL is established on the platform, Coinbase Pro customers will have access to the trading pairs SOL-USD, SOL-BTC, SOL-EUR, SOL-GBP and SOL-USDT. Trading on new order books will happen in phases, beginning with post-only mode and proceeding to full trading.
What is Solana?
Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve the scalability of the blockchain by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims to be able to support 50,000 transactions per second without sacrificing decentralization.
Solana is currently up 35% trading at around $47.5 per coin.