Back to main

Giant payment gateway CoinGate adds support for Solana (Sol) crypto 

Table of Contents

Giant payment gateway CoinGate adds support for Solana (Sol) crypto  2

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.

We have integrated the @Solana network into our payment gateway! 🚀

From now on, you can make payments in #SOL and #USDC using the #Solana network.

All are available when shopping at CoinGate-powered merchants. 💪 pic.twitter.com/gsjGwvzh8W

— CoinGate (@CoinGatecom) May 14, 2024

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. 

Comparison of Tron with other top blockchains in the daily active users metric#Tron leads with 2.8M+ active users, outpacing other top blockchains

(7/13) pic.twitter.com/6A8vLajBdv

— Coin98 Analytics (@Coin98Analytics) May 7, 2024

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. 

Solana current trade price is $146.19 pic.twitter.com/v67kREtxOR

— Bitcoinik (@Bitcoinikdotcom) May 14, 2024

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

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Read on Bitcoinik Investment Disclaimer