Solana Tokens Now Available on Robinhood Wallet App

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As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find Robinhood’s recent move to add Solana (SOL) support to its self-custody wallet app a significant stride forward. This integration not only opens a new door to web3 for Solana but also bolsters an ecosystem that has been thriving with over $9.8 billion in total value locked and nearly 2 million active addresses daily.

Robinhood has taken a significant step by incorporating Solana (SOL) compatibility into its self-custody wallet application, which is accessible on both iOS and Android devices. As of August 27th, users are now able to send, receive, and handle SOL and tokens based on the Solana network directly through the Robinhood Wallet without any hassle.

This integration provides Solana, the fifth largest cryptocurrency by market capitalization, with a fresh pathway into web3. With a total value locked of over $9.8 billion and approximately 2 million active addresses each day, this boost will have a significant impact on its ecosystem.

The announcement initially sparked a slight uptick in SOL’s price, though broader market conditions tempered the gains. Still, this development marks a positive shift in sentiment for Solana, which had been hovering near $155.

In an enthusiastic statement, Johann Kerbrat, head of Robinhood Crypto, announced that users are now able to securely store Solana tokens themselves and transfer tokens using the Solana blockchain starting from today!

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2024-08-28 12:20