Solana price gains momentum thanks to PayPal support
Solana grows in mainstream finance
PayPal’s official announcement of Solana (SOL) joining its list of supported cryptocurrencies contributed to a more than 5% increase in the asset’s price.
Alongside Chainlink (LINK), Solana is now available for buying, holding, selling, and transferring within both PayPal and Venmo wallets. This offers users greater flexibility and access to blockchain-based financial tools.
The move is seen as a response to growing user demand for high-performance, next-generation digital assets. “One of the pieces of feedback we often hear is the request to expand the list of tokens that align with our mission of revolutionizing payments,” said May Zabaneh, Vice President of Product for Blockchain, Crypto, and Digital Currencies at PayPal.
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Solana’s technological edge and role as an ethereum alternative
Solana’s inclusion is particularly noteworthy. Thanks to lightning-fast transaction speeds and extremely low fees, Solana has become a popular scalable alternative to Ethereum in the realms of decentralized finance (DeFi), NFTs, and other on-chain applications. Its integration with mainstream platforms like PayPal and Venmo could significantly enhance Solana’s visibility and adoption among retail users.
Following the news, SOL’s price spiked from $117.15 to $123 on Friday, before stabilizing around $119, according to CoinGecko. In contrast, the broader cryptocurrency market showed weakness—dropping nearly 1% over the past 24 hours and about 2% for the week.
SOL price trend. Source: CoinGecko
Market volatility and broader economic context
Market-wide volatility has increased amid political uncertainty in the United States. On Wednesday, former President Donald Trump signed an executive order imposing a flat 10% tariff on all imported goods, shaking global markets and triggering a new wave of uncertainty across risk assets, including cryptocurrencies.
Outlook for solana and PayPal’s role in digital asset adoption
Nonetheless, Solana’s inclusion in PayPal and Venmo’s crypto offerings signals confidence in its long-term potential. As one of the fastest-growing blockchain platforms with an active developer community and a powerful ecosystem, Solana is increasingly viewed as a promising asset for retail investors seeking diversification beyond Bitcoin and Ethereum.
By expanding access to cryptocurrencies like Solana, PayPal reinforces its role as a key player in driving mainstream adoption of digital assets, offering users innovative tools to engage with the future of payments.
Notably, Solana continues to show strong user growth and shifting investor sentiment. As of late March, more than 11.19 million wallets held at least 0.1 SOL—an all-time high for network engagement and mainstream adoption.
