Coinbase officially enters the decentralized finance (DeFi) market based on Solana (SOL), announcing support for decentralized exchange (DEX) trading of all Solana tokens within its application. Approximately 10000000000 users can instantly trade millions of Solana tokens without a listing process, which is seen as Coinbase's boldest attempt at permissionless market expansion.
This announcement was made during the 'Solana Breakpoint 2025' event held in Lisbon, USA. Coinbase protocol expert manager Andrew stated at the press conference: 'Every day millions of assets are generated on-chain, and we want to make it easy for all Coinbase users to access these assets.'
He explained that users can trade all tokens within the Solana ecosystem through the user-friendly Coinbase application, with payment options expanded to include USDC, cash, bank accounts, debit cards, and more. He particularly emphasized that as long as liquidity is ensured, tokens can be traded without formal listing, which also lowers the entry barrier from the project's perspective.
The Solana Foundation also conducted extensive promotion of this on social media platform X, stating that 'all Solana tokens can now be traded instantly by 100 million Coinbase users,' and expects this to be a significant turning point for the expansion of the DeFi ecosystem. At the same time, it announced the launch of Elixir Labs' new derivatives platform 'Phoenix Perpetuals,' highlighting the rise of Solana's native trading infrastructure.
However, in terms of price, the short-term downward trend continues. As of the report, the price of Solana tokens is approximately $131 (about 1,927,578,000 KRW), down about 6% for the day, down about 9% for the week, and nearly a 20% drop over the past 30 days. Although it is about 40% lower than the peak a year ago, its daily trading volume is approximately $7.4 billion (about 10,896,500,000,000 KRW), indicating relatively active market participation.
This announcement also marks the first large-scale business pivot following Coinbase's recent withdrawal from the acquisition of stablecoin startup BVNK valued at $2 billion (about 2,945,000,000,000 KRW). By supporting the trading of various emerging tokens without requiring listing, Coinbase is expected to enhance its competitiveness with DeFi trading platforms. At the same time, Solana is also expected to accelerate its strategy to expand the decentralized application ecosystem.
Article Summary by TokenPost.ai
🔎 Market Interpretation
Coinbase and Solana have opened the door to 'permissionless trading', entering the competition of asset trading platforms centered on liquidity without regulation. This is interpreted as an attempt to transcend the boundaries of centralized exchanges (CEX) and achieve substantial integration with DeFi.
💡 Strategic Highlights
For issuers of Solana-based tokens, there is no listing cost, and they can instantly reach Coinbase users solely based on liquidity assurance and community building. This may become an opportunity for new projects centered on utility tokens or DeFi services.
📘 Terminology Explanation
- Permissionless: A structure where anyone can participate in the network or trade assets without prior approval.
- DEX (Decentralized Exchange): A platform for cryptocurrency trading that does not require a third-party intermediary and is based on smart contracts.
- Liquidity: The ability of the market to easily buy and sell assets. The higher the liquidity, the lower the volatility, and the smoother the transactions.
TP AI Notes
This article uses a language model based on TokenPost.ai for article summarization. Main content may be omitted or differ from the facts.
