Bitcoin exchange Coinbase has added Solana (SOL) to its staking offerings and announced a further expansion of the service.
Find all the details on our blog: https://t.co/Wvw6uq6A4w pic.twitter.com/GWoP3KXGsn
— Coinbase (@coinbase) June 29, 2022
Users will automatically start receiving income on their coins in the exchange wallet. The annual rate is ~3.85%, the minimum balance is from $1.
Reward payments will be made every 3-4 days.
SOL has become the seventh cryptocurrency supported by the Coinbase staking service after Ethereum (ETH), Algorand (ALGO), Cosmos (ATOM), Tezos (XTZ), Cardano (ADA) and DAI.
“When users stake their cryptocurrency, they make its underlying blockchain more secure and efficient. And in return, they receive additional assets from the network, which are paid as a reward, ”the exchange said in a statement.
Over the past 24 hours, the price of SOL has fallen by more than 8% (CoinGecko), the coin is trading at a level slightly above $32. Compared to the historical maximum recorded in November 2021, the quotes sank by 87.5%.
Recall that in June, Coinbase announced the launch of bitcoin nanofutures.
The exchange also announced the closure of the Coinbase Pro platform for professional traders.
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