CEO of Coinbase exchange, Brian Armstrong, suggested that Coinbase may integrate Solana in the future similar to the integration of Lightning Network on Bitcoin.
No intention to issue Base token, intended to integrate Solana
In a recent Decrypt exclusive interview with Coinbase CEO Brian Armstrong, we shared a lot of interesting information. In his interview sharing, there are two notable points that Armstrong wants to emphasize.
First, Coinbase has no plans to launch Base token. According to Decrypt, Armstrong's statement this time somewhat contradicts the previous statement of Coinbase's Chief Legal Officer, Paul Grewal, in September 2023. However, at the end of the day, a Coinbase spokesperson confirmed that the exchange has no plans to issue a Base network token.
With Base's current growth, Armstrong said they are also working to integrate it with many different applications. This is intended to optimize transaction execution on Coinbase. To do this, Armstrong believes that in addition to needing further improvements, Base or other Layer 2 solutions need to be set as the default option on Coinbase's platform instead of only being used when needed like Present. According to Armstrong, currently about 7% of transactions through Coinbase use layer 2. And Coinbase has set goals to increase that number in the near future. However, it should also be noted that the Base network has also been shut down in the past.
Second, it is likely that Coinbase will integrate Solana . This is one of Coinbase's intentions to integrate other faster layer 1 networks and Solana is one such option. Although there is no exact information about whether Coinbase will choose Solana for this integration, it seems that with current network performance, Solana is also a notable name.
Solana price skyrocketed to above 63 USD
Not only did the Bitcoin price today record an increase above $39,000, but the SOL price also surpassed the $63 mark with the news of Coinbase integrating Solana. As early as mid-November 2023, SOL price began to record strong increases after a long series of gloomy days. At current prices, SOL is up more than 54% in the past 30 days and more than 361% compared to a year ago.
