Previously, PayPal users in the US region had to purchase Solana and Chainlink using MoonPay.
According to PayPal’s crypto FAQs website, digital asset users in the United States can now buy, sell, hold, and trade Chainlink (LINK) and Solana (SOL) directly on the platform for the first time. Before this listing, buyers of SOL or LINK had to use MoonPay, a cryptocurrency-native service provider that accepts PayPal as a payment option.
PayPal’s Crypto Offerings
According to on-chain data, Solana and Chainlink prices remained unchanged after the news. Since October 2020, PayPal has been providing cryptocurrency services.
The company first offered its US clients support for other digital assets such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. In August 2023, PayPal USD, its dollar-pegged stablecoin built on the Ethereum and Solana blockchains, was included in the list of currencies, increasing the platform’s assets and payment options.
Previous regulatory inconsistencies influenced the company’s cautious approach to crypto listing in the United States. Federal agencies’ earlier restrictions on the crypto sector have discouraged institutions interested in offering cryptocurrency-related services.
In June 2023, the Securities and Exchange Commission investigated Solana as a possible unregistered securities asset in lawsuits filed against cryptocurrency exchanges Binance and Coinbase. Since the start of the current administration, the SEC has halted legal action in the Binance case and withdrawn its lawsuit against Coinbase.
Assets like Solana and Chainlink may display positive trends since the current US administration is crypto-friendly. The US SEC has accepted several spot Solana exchange-traded fund filings.
Also read:Solana Price Crashes Below $120 Following Trump’s Tariff Announcement
After Donald Trump’s tariff announcement, SOL’s price fell below $120. Solana initially rose to about $136 when Trump started his address, but the market became negative when he did not make any reference to cryptocurrency.
The coin lost around 15% of its value and hasn’t reclaimed the $120 price level since then. Trump’s latest tariff statement has caused a buzz in the cryptocurrency community.
His statement also affected other cryptocurrencies. After briefly rising to $87K, Bitcoin dropped back to $83K. In the last day alone, the overall evaluation of the cryptocurrency market fell 1.16% to $2.68 trillion.
However, after this decline, SOL’s trading volume surged 105% to $6.19 billion, indicating that traders are still active. Trump stirred up world markets with his address, which he called “Liberation Day.”
Many industry players are already questioning if the latest decline represents the start of a more significant crash or only a brief shakeout.
Solana DEX Platform Jupiter Acquires DRiP Haus NFT Platform
Meanwhile, Jupiter, one of Solana’s top decentralized exchange platforms, has announced that it has acquired DRiP Haus, an NFT platform. According to the announcement, DRiP Haus will remain autonomous as its staff adds NFT tools to Jupiter’s platform.
Kash Dhanda of Jupiter claims that the acquisition is part of the company’s strategy to develop a Super App based in Solana. The company aims to go beyond its status as a platform only known for crypto swaps. The news follows the announcement by well-known non-fungible asset platform X2Y2 that it is closing its NFT marketplace to concentrate on developing an AI-powered platform for assets that yield returns.
However, Dhanda expresses a different view of the industry’s long-term prospects, despite X2Y2’s actions suggesting that the NFT market might never reach its previous peak again. Dhanda explained the difference between DRiP Haus and standard NFT trading platforms.
He said it focuses on disseminating instead of trading and that startups across the Solana ecosystem can send out their visual campaigns on DRiP. Financial details of the sale, which was set up as an all-cash transaction, were not disclosed by Dhanda or Vibhu Norby, the founder of DRiP Labs.
The agreement states that part of the DRiP Haus team will include NFT features into Jupiter’s platform, while the other half will continue to operate under the NFT platform.
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