In the context of Solana (SOL) price jumping by 61% since December 1, 2023, Justin Sun, the Tron founder, gave an update that could further boost liquidity on Solana blockchain. The recent upsurge in SOL Price meant that the Solana market cap breifly superseded that of Binance Coin (BNB).
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On Friday, December 22, 2023, Sun announced that there were plans to integrate the Tron wallet with the Solana blockchain. According to Tronlink website, the wallet has over 10,000,000 users across the globe, with support to over 100,000 tokens. Tagging Solana co-founder Raj Gokal and Solana Labs co-founder Anatoly Yakovenko on X platform, Justin Sun said,
“Tron Wallet is exploring the integration of the Solana blockchain. What are your thoughts on this potential collaboration?”
This comes after reports linking Sun with crypto exchange Huobi Global. In April 2023, CoinGape reported that Justin Sun purchased the crypto exchange for about $1 billion in 2022 following sale of stake by majority shareholder Leon Li. The Tron founder, however, later denied having any stake in Huobi. Currently, the Tron founder is serving as a global advisor at the exchange.
Interestingly, the announcement from Sun came at a time when Solana (SOL) appears to have found strong support from institutional investors. At the same time, the crypto market overall is staring at a potential bull run around the prospect of the US Securities and Exchanges Commission (SEC) approving the first ever spot Bitcoin ETF in the United States.
Earlier, CoinGape reported that the Relative Strength Index (RSI) indicator for SOL price is supporting the ongoing price rally, while showing momentum towards reaching the $100 mark over few days.
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