Here Are the Main Reasons Why Solana Could Keep Surging

At the beginning of the week, Solana’s (SOL) price slightly declined but stayed close to $144 following a 9% rise over the previous week.

Several announcements are contributing to the positive sentiment surrounding SOL, including Coinbase’s upcoming wrapped Bitcoin on Solana, the launch of the USDS stablecoin by Sky (formerly MakerDAO), and Travala’s decision to integrate Solana for booking services. Many enthusiasts believe these moves could support SOL’s bullish trajectory in the near future.

Travala, a crypto-based travel platform, recently announced its integration with Solana, enabling users to book flights and accommodations using Solana’s assets.

This was revealed at the Breakpoint event, where another major announcement came from Coinbase regarding cbBTC. Coinbase will launch cbBTC, a wrapped version of Bitcoin, on Solana.

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This token, built on Ethereum’s blockchain, allows Bitcoin to be used in Ethereum’s decentralized financial applications without needing to sell the original BTC. Released on September 12, cbBTC operates on both Ethereum and Base and is now set to expand to Solana, increasing liquidity and trading options for Bitcoin, which could also attract new users to the DeFi space.

Sky’s USDS stablecoin has also been introduced on Solana via the Wormhole bridge, offering quick execution and low fees. Users can move their USDS from Ethereum through supported portals and deposit it into Sky’s treasuries, using a mechanism familiar to Maker’s protocol.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.