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Kraken is listing Solana (SOL) and Serum (SRM)

Kraken is listing SOL and SRM

One of the largest US-based crypto exchanges Kraken is listing Solana (SOL) and Serum (SER) on its exchange. Kraken will also provide staking support for Solana (SOL) with up to 6.5% in yearly rewards (APY). Deposits are already enabled and trading will starts on June 17 at 15:30 UTC.

Both the assets will be available for trading in USD, EUR, GBP, and BTC pairs. However, Residents of the US, Canada, Japan, and Australia will not be able to trade SOL and SRM on Kraken at this time.

Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).

Kraken

Also see – How to mine SHIB and MATIC (Polygon) on Unmineable

Solana is a blockchain platform that aims to increase user scalability through faster transaction settlement times. The Solana software includes a flexible infrastructure that allows developers to write and launch smart contracts using multiple programming languages. The SOL cryptocurrency plays a key role in maintaining and operating the Solana ecosystem and is used to execute smart contracts, send transactions, and incentivize actors that support the network.

SOL is among the top 20 cryptocurrencies by market cap and traded at $38.20 at press time. SOL has seen a growth of over 4000% in the last 12 months.

SOL price chart, Source: CoinGecko

SRM is the cryptocurrency used by Serum, software running on Solana where a global network of users maintain an exchange where cryptocurrencies can be bought and sold by traders. Central to its design is a decentralized order book aimed to operate similarly to traditional exchanges by matching buyers and sellers. SRM holders can use their tokens to pay for fees on the exchange while also receiving up to a 50 percent discount on them.

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