Solana (SOL) Now Among the Most Liquid Altcoins on Coinbase: Kaiko

Solana (SOL) has surged to become one of the most liquid altcoins on the leading crypto exchange Coinbase, according to recent findings by market intelligence firm Kaiko. The token boasts over $3 million in liquidity, overshadowing prominent altcoins like DOGE, XRP, and Matic. Despite the recent 6% drop in Solana price amid market-wide pessimism, SOL’s solid fundamentals and introduction of a tokenized version of Bitcoin on the Solana network signal promising times ahead.
📈 $SOL has surged to become on of the most liquid altcoins on Coinbase pic.twitter.com/0vGJ1hEiY8
— Kaiko (@KaikoData) August 16, 2023
Surpassing Competitors in Liquidity
Liquidity refers to the ease with which an asset can be converted into ready cash without affecting its market price. The more liquid an asset is, the more efficiently it can be transformed into cash.
SOL’s superior liquidity on Coinbase makes it an attractive investment option, as it can easily be bought or sold without causing significant price fluctuations. With over $3 million in liquidity, SOL has surpassed DOGE, which has just above $2 million, and XRP and Matic, which each have just over $1 million.
Altcoin liquidity chart on Coinbase, Source: Kaiko
Despite its liquidity advantage, Solana has not been immune to the broader market’s recent downturn. The Solana price has declined by 6% to $23.39, resulting from speculation that the SEC will delay its decisions regarding Bitcoin ETF applications until 2024. Over the past week, SOL has lost 5%, down 15% in the past month. However, despite this short-term setback, SOL remains fundamentally strong.
A Glimpse of Optimism for Solana
There are plenty of reasons for optimism regarding Solana’s future. A major highlight is the recent launch of a tokenized version of Bitcoin, known as tBTC, on Solana’s network. Like Wrapped Bitcoin (WBTC) on Ethereum, tBTC will allow BTC holders to utilize their Bitcoin value across various DeFi platforms and applications, increasing usage for Solana.
Solana has been steadily recovering this year after a challenging 2022 marked by network outages. The network now boasts a consistent 100% uptime, and the introduction of new launches and use cases, like tBTC, is expected further to support Solana’s consistent recovery throughout the year.
- SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable
- Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up
- Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act
- Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says
- Fed’s Hammack Backs Restrictive Policy Over Rate Cuts Amid Inflation Concerns
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing