- The move comes as the regulated platform, which trades Bitcoin, Ethereum, and more than 110 altcoins, expands its order book to incorporate tokens that have risen in popularity in recent months.
- Altcoin trading accounts for 40% of Coinbase’s volume, with Bitcoin and Ethereum accounting for the remaining 60%. Coinbase CEO Brian Armstrong previously stated that the exchange intends to list any cryptocurrency asset where it is legal to do so.
- The wallet’s utility has grown to incorporate NFTs as new Web 3 apps in the crypto sector continue to emerge at a rapid pace.
Coinbase will provide an additional layer of protection for users who choose to manage their Solana (SOL) and Solana-based SPL tokens through the extension with this enhanced support. The exchange also wants to deepen its integration with the Solana ecosystem, including allowing wallet users to connect to Solana dapps, view, and manage their Solana NFTs straight from their extension.
Wallet’s Utility Has Grown To Incorporate NFTs As New Web 3 Apps In The Crypto
The Coinbase Wallet browser extension now supports Ethereum, Avalanche, Polygon, BNB Chain, Bitcoin (BTC), Dogecoin (DOGE), Litecoin (LTC), and Stellar Lumens, thanks to recent development. Coinbase Wallet, which is available in the Chrome Web Store, is a noncustodial wallet that allows users to store and transact several cryptocurrencies. The wallet’s utility has grown to incorporate NFTs as new Web 3 apps in the crypto sector continue to emerge at a rapid pace.
Making web3 more user-friendly implies more ways to interact with and connect with dapps on a variety of blockchains and networks. Today, we’re announcing Solana’s first level of support. Users can now manage their Solana (SOL) and Solana tokens (SPL) alongside tokens held on any of the Coinbase Wallet extension’s supported networks, such as Ethereum, Avalanche, Polygon, BNB Chain, and others. This allows users to use more features of web3 without having to manage several accounts.
More Items Are Being Added To Coinbase At A Rapid Pace
Solana ecosystem tokens were launched on Coinbase in January, and their value skyrocketed as word spread about their fast transaction processing speed. The move comes as the regulated platform, which trades Bitcoin, Ethereum, and more than 110 altcoins, expands its order book to incorporate tokens that have risen in popularity in recent months.
Because some of these coins are supported by competitors, the rise of alternative coins has been a challenge for Coinbase. Coinbase had to step in since their trading volume has been so high recently, and their supporters have either abandoned the platform or registered accounts on other exchanges where they may trade.
Coinbase is one of the most prominent consumer-facing bitcoin platforms in the world, and it complies with all rules. Altcoin trading accounts for 40% of Coinbase’s volume, with Bitcoin and Ethereum accounting for the remaining 60%. Coinbase CEO Brian Armstrong previously stated that the exchange intends to list any cryptocurrency asset where it is legal to do so.
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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/03/21/solana-cryptocurrencies-is-also-now-assisted-via-coinbase-wallet/