Solana Jumps on ORCA and FIDA Coinbase Listing


SOL has surged 17% in the past day after cryptocurrency exchange Coinbase listed ORCA and FIDA, two Solana-based tokens.  

Solana rose to more than $106 on Tuesday from $90 in the previous day. The token had earlier tumbled from $175 at the start of the year to $82, amid a bearish sentiment.

The exchange announced inbound transfers for the two SLP tokens on Tuesday saying  that trading would be enabled on 9AM PT factoring liquidity conditions. 

The Relative Strength Index, a metric that shows the extent of price changes, peaked at the overbought zone, meaning that a correction could occur in the short term.

The bullish sentiment is also attributed to a $109 million investment round closed by Phantom, a Solana-based blockchain wallet. The wallet launched an iOS application after the round, which was led by Paradigm.

ORCA surged 36% to trade at more than $4 despite a slight drop from $3.5 in the preceding period. FIDA traded at $2 and moved to  $2.77 after the announcement.

Source: Coindesk

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