Solana, the high-performance blockchain platform, has kicked off the year 2024 on a positive note with a new listing on the Singapore-based crypto exchange, Crypto.com. This listing has resulted in an 11% jump in the price of Solana’s native cryptocurrency, SOL.
Crypto.com announced the addition of four Solana-based trading pairs on its platform: HNT/SOL, ORCA/SOL, JTO/SOL, and MNDE/SOL. This move provides increased exposure not only for Solana but also for its ecosystem tokens. MNDE is the native cryptocurrency of Marinade Finance, JTO is the native crypto asset of Jito, and Orca is an Automated Market Maker-based decentralized exchange built on Solana. Additionally, HNT is the native token of the Helium network, which recently migrated to Solana.
SOL’s price surge and increased market momentum can also be attributed to the wider cryptocurrency market rebound. Bitcoin’s recent rise to $45,000 after almost two years has fueled bullish sentiment among traders in the U.S. and Europe. This market optimism, combined with the anticipation surrounding the approval of a spot Bitcoin ETF, has led to increased interest in cryptocurrencies like Solana.
As of now, SOL holds the fourth position in terms of market capitalization, surpassing Binance’s BNB coin. With a market cap of $49.28 billion, Solana continues to solidify its position as a significant player in the crypto space.
Overall, Solana’s new exchange listing and the subsequent price jump indicate a promising start to the year, with the platform and its ecosystem tokens gaining increased visibility and investor attention.