Solana rises nearly 8% after announcing listing of new ecosystem token

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Solana is starting 2024 with huge improvements, adding new exchange listings. Singapore-based cryptocurrency exchange Crypto.com announced the listing of four Solana trading pairs.

Crypto.com announced in a tweet that new trading pairs HNT/SOL, ORCA/SOL, JTO/SOL and MNDE/SOL are now available on the platform. This listing is a positive sign for Solana, as HNT, ORCA, JTO, and MDE are all tokens of the ecosystem, among which:

MNDE is the native cryptocurrency of Marinade Finance, a non-custodial liquidity staking protocol built on the Solana blockchain.
JTO is the native crypto asset of Jito, a decentralized finance (DeFi) platform based on Solana.
Orca is an AMM-based decentralized exchange (DEX) built on the Solana blockchain.
HNT is the native token of Helium, a blockchain-based network that connects IoT devices and will be migrated to Solana in 2023.

The listing thus marks an increase in visibility not only for Solana, but also for the token in its ecosystem.

New trading pairs are now online https://t.co/vCNztATkNg app! 📈

HNT/SOL
Oka/sol
JTO/SOL
Multi-core DE/SOL

Get the app 👉 https://t.co/iIoKFVnKVQ pic.twitter.com/7pizn76aDD

— Crypto.com (@cryptocom) January 2, 2024

Sol, the native cryptocurrency of the Solana blockchain, has gained nearly 8% in the past 24 hours and is trading at $113.8.

Source: Coinmarketcap

The growth coincides with a broader recovery in the cryptocurrency market, with Bitcoin reaching $45,000 for the first time in nearly two years.

Some traders in the U.S. and Europe are worried about missing out before a spot Bitcoin ETF is approved, which could fuel bullish bets on crypto assets like Solana.

As of this writing, SOL’s market cap is $48.9 billion, making it the fourth-largest cryptocurrency by market cap, surpassing Binance’s BNB.