Coinbase adds support for Solana-based Neon EVM (NEON) to boost developer activity

Renowned crypto exchange Coinbase has confirmed the decision to list Neon EVM (NEON) on the Solana (SOL) ecosystem. 

Coinbase will add support for Neon EVM (NEON) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️📞 (@CoinbaseAssets) April 29, 2024

The announcement of the Solana-based SLP coin listing on Coinbase triggered excitement among crypto players.

NEON tokens enable Ethereum (ETH) creators to develop and deploy their decentralized applications on Solana. 

NEON debuts on Coinbase

The exchange will start supporting the altcoin on 30 April, at noon ET, whereas trading will begin after Coinbase ensures adequate liquidity. 

Furthermore, the investment firm will restrict NEON trading, potentially due to varying legal frameworks of different jurisdictions. 

Neon EVM’s increasing popularity

Neon EVM has attracted attention in the crypto world with its capabilities to connect Ethereum and Solana.

That allows ETH developers to deploy their dApps on SOL without adjusting codebases. 

Neon EVM facilitates that due to its smooth compatibility with Ethereum Virtual Machine and its technology that runs ETH decentralized applications. 

Moreover, Coinbase added the Canadian stablecoin QCAD to its updated roadmap.

NEON price outlook

The alt painted its daily chart green, up 2% in the past day to trade at $1.08. 

The listing announcement likely contributed to the price upside as the broad market displays an unclear direction.

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