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Solana Kicks off 2024 With New Listing on This Crypto Exchange, SOL Jumps 11%

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Tue, 2/01/2024 - 12:55
Solana Kicks off 2024 With New Listing on This Crypto Exchange, SOL Jumps 11%
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Solana has started 2024 with a major boost, as it added a new exchange listing. Singapore-based crypto exchange Crypto.com has announced the listing of four Solana-based trading pairs.

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Crypto.com announced in a tweet that new trading pairs HNT/SOL, ORCA/SOL, JTO/SOL and MNDE/SOL are now available on its platform.

The listing represents positivity for Solana, given that HNT, ORCA, JTO and MNDE are Solana ecosystem tokens.

MNDE is the native cryptocurrency of Marinade Finance, a noncustodial liquid-staking protocol built on the Solana blockchain.

JTO is the native crypto asset of Jito, a Solana-based decentralized finance (DeFi) platform. Orca is an Automated Market Maker (AMM)-based decentralized exchange (DEX) built on top of the Solana blockchain.

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HNT is the native token of Helium, a blockchain-based network that connects IoT devices that migrated to Solana in the past year of 2023.

Thus, the listing not only marks increased exposure for Solana but likewise for its ecosystem tokens.

SOL jumps 11% to clinch fourth place in crypto market rankings

SOL, the Solana blockchain's native cryptocurrency, is up 11% in the last 24 hours to trade at $115.21. The gain coincides with the wider cryptocurrency market rebound, which saw Bitcoin reach $45,000 for the first time in nearly two years.

CoinMarketCap table
Courtesy: CoinMarketCap Data

Fear of missing out among certain traders in the U.S. and Europe in the run-up to the approval of a spot Bitcoin ETF may have fueled bullish wagers on crypto assets such as Solana.

SOL had a market capitalization of $49.28 billion at the time of writing, making it the fourth-largest cryptocurrency by market cap, surpassing Binance's BNB coin.

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