Two Solana (SOL)-based altcoins are experiencing a price dip following their recent support from the largest cryptocurrency exchange in the US.
In an announcement on X, Coinbase Assets revealed that it is now supporting Jito Staked SOL (JITOSOL) and the non-fungible token (NFT) marketplace Metaplex (MPLX).
“Jito Staked SOL and Metaplex are now available on coinbase.com and on the Coinbase mobile apps for iOS and Android. Coinbase users can easily buy, sell, convert, send, receive, or store these assets.”
Following the news of the support, JITOSOL is currently trading at $217, marking a 6.8% decrease, while MPLX is valued at $0.169, showing a slight decrease over the past 24 hours.
JITOSOL is a liquid staked token (LST) that allows users to earn additional rewards by staking Solana on the decentralized finance (DeFi) platform Jito. As stated on their official website, JITOSOL remains in your wallet and earns two types of interest, all while staying liquid and tradable on demand.
“JitoSOL is a reward-bearing LST that maintains a constant quantity in your wallet. What makes JitoSOL unique is its dual reward system, accumulating both staking and MEV rewards, leading to an increase in the JitoSOL/SOL exchange rate over time.”
MPLX serves as the native asset of the Metaplex NFT marketplace, a decentralized platform on Solana that acts as its governance token and facilitates the minting, trading, and management of NFTs.
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