SOL Price Pumps As Solana Goes Live on MetaMask

Key Insights:

• MetaMask announces support for the Solana network, unifying a multi-chain wallet experience.
• Users can send, receive, swap, bridge, and buy Solana-based tokens, as well as interact with Solana-based dapps.
• SOL price broadens upside move, with analysts expecting a move above $200 in the coming weeks.

MetaMask, the world’s leading crypto wallet based on the Ethereum network, has announced support for the Solana network. As a result, Solana (SOL) price witnessed an upside move towards $180.

MetaMask Expands to Solana Network

Crypto wallet MetaMask now officially supports the Solana network, according to a press release on May 27. Currently, Solana is live on the Extension, with integration for the MetaMask mobile app coming in the coming weeks.

It enables users to send, receive, swap, bridge, and buy Solana-based tokens. Also, users can now interact with Solana dapps, supported by the enhanced security features of the MetaMask crypto wallet.

MetaMask plans to integrate more non-EVM networks into the extension and the app over the coming months. This company aims to offer “one wallet, one interface, every network” multi-chain wallet experience to its users, eliminating the need to switch between multiple wallets.

Experiencing Solana on MetaMask

Solana network support on MetaMask Extension is available on the v12.18 version of the crypto wallet. Users need to create a new Solana account or import an existing one. MetaMask will detect balances automatically.

However, users may need to click the “View More Wallets” dropdown to see the MetaMask option when connecting to Solana dapps. Make sure to select the latest MetaMask icon from the list of wallets presented.

“Our curated onramp lets you buy tokens at the best prices, or you can bridge cryptocurrencies you already own from Ethereum to SOL. And you can do all this alongside your existing Ethereum accounts, from one place.”

MetaMask aims to offer real-time alerts, malicious dapp detection, and transaction simulations to the Solana community using the crypto wallet.

SOL Price Jumps 4%

SOL price climbed 4% from the intraday low today, with reports of MetaMask expanding to the Solana network further driving the price upwards. The crypto community welcomed the move as many projects launched on the Solana network over the last few years.

At the time of writing, SOL price was trading at $178. The 24-hour low and high were $171.58 and $179.21, respectively.

In the derivatives market, SOL’s open interest (OI) climbed modestly, with total SOL futures OI valued at $7.26 billion. As per CoinGlass data, CME saw a 0.64% increase and Binance recorded a 0.12% rise in futures OI amid MetaMask’s SOL network support announcement.

Popular analysts such as Lark Davis and Ali Martinez predicted a rally in SOL price above $200. Davis said SOL chart is forming a bull pennant and gave a $200 price target. However, the price needs to break above the triangle pattern.

On the other hand, Ali Martinez recently predicted a parabolic bull run for SOL price as the weekly chart forms a clear cup-and-handle pattern. SOL was up 8% in a week at the time of writing, with the price still below $180.

The post SOL Price Pumps As Solana Goes Live on MetaMask appeared first on The Coin Republic.