Coinbase added Solana staking feature

SOL became the seventh token supported by the platform’s service, following Ethereum, Algorand, Cosmos, Tezos, Cardano, and DAI

30.06.2022 - 11:35

204

1 min

What’s new? Cryptocurrency exchange Coinbase has added the native token’s staking feature of the Solana (SOL) blockchain platform. The company noted that it intends to expand the service and add more assets to it in 2022. SOL became the seventh token supported by the exchange’s service, following Ethereum (ETH), Algorand (ALGO), Cosmos (ATOM), Tezos (XTZ), Cardano (ADA), and MakerDAO (DAI) stablecoin.

Coinbase Blog

What else does the blog say? The minimum initial balance required for a user to receive SOL staking rewards is $1. Payouts will be made every 3-4 days. The annual rate is approximately 3,85%.

As of June 30, SOL is trading at $31,49, down by 9,3% per day, according to Binance. The asset ranks 9th in the ranking of cryptocurrencies by market capitalization with a figure of $10,83 billion, with the daily trading volume exceeding $1,33 billion, according to CoinGecko.

On June 22, it became known that Coinbase would merge the functionality of its Coinbase Pro service for professional traders to the platform’s main app.

Journalists reported that back in 2021, Coinbase provided the US Immigration and Customs Enforcement (ICE) with Coinbase Tracer, an analytics software, to track transactions and historical geolocation data of shipments.

Author: