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.