Coinbase Wallet’s browser extension now supports the Solana ecosystem
Coinbase Wallet, a self-custodied cryptocurrency wallet, has started rolling out support for Solana ecosystem tokens for its browser extension, according to a blog post published earlier on Thursday.
Solana emerged as one of the leading blockchain projects in 2021, with its native SOL token experiencing a massive price rally There are now more than 1,400 projects on top of Solana.
The SOL cryptocurrency is currently approaching the $90 mark after climbing more than 5% in the past 24 hours. The token is still down 65.12% from the all-time high of $259.96 on November 6.
As of now, it is in fifth place by total value locked among other smart contracts platforms that vying for dominance in the decentralized finance space, according to data from DefiLlama.
Users can send, store, and receive Solana-based tokens, but Coinbase Wallet does not support Solana-based decentralized applications (dApps) at this time. Such functionality is already supported by existing Solana-focused wallets such as Phantom. The extension will add decentralized applications in the coming months. Users will be able to view and manage non-fungible tokens issued on top of the blockchain.
Prior to adding Solana, Coinbase Wallet supported Ethereum Virtual Machine (EVM)-compatible projects such as BNB Chain and Avalanche. In July, it added support for Polygon, a layer-2 scaling solution for the Ethereum network.
As reported by U.Today, Coinbase launched the browser extension last May, which makes it easier for various decentralized applications.
It is worth noting that Solana ecosystem tokens will not be visible in the mobile version of Coinbase Wallet.
