CoinGate announced support for the popular Ethereum rival Solana (Sol) network. So, now people can utilize the Solana network for payment via CoinGate.
CoinGate is a popular crypto payment platform empowering merchants to accept cryptocurrencies for goods and services, thereby facilitating mainstream adoption. With its user-friendly interface and support for a wide range of digital currencies, CoinGate aims to fill the gap between traditional finance and the evolving world of cryptocurrencies.
On 14 May 2024, CoinGate announced support for the Solana crypto network. With this new integration, all the CoinGate users can easily transfer Sol network-supported Sol coin & USDC stablecoin for payment purposes.
In the near future, Solana network-based USDT & other meme coins support will come soon.
As per a report by Coin98 analytics, Solana is currently the top 5th blockchain network, in terms of popularity & use. In April, the Solana network proceeded with a total of 868k transactions.
Solana (Sol) price action
The current trade price of the Solana (Sol) coin is $146 & this trade price is only 25% higher over the last 3 months.
Recently Yahoo Finance reported that the trading volume of Solana coin surpassed $2.5 billion on the crypto exchanges.
As we know the crypto market is currently facing downfall and selling off pressure, which might affect Solana’s price, causing it to drop even more.
$120 is a strong support level for Solana’s price in the long term. If it falls below $120, there’s a chance it could quickly drop to $100 or even lower.
Read also: Coinbase suffers a major outage, users unable to withdraw funds
