Robinhood has added support for Solana (SOL) to its self-custody wallet app. This integration allows users to send, receive, and manage SOL and Solana-based tokens directly within the Robinhood Wallet.
This development marks a significant boost for Solana, which is the fifth-largest cryptocurrency by market cap. It provides a new gateway to web3 for Solana, which has over $9.8 billion in total value locked and nearly 2 million active addresses daily.
The announcement initially sparked a slight uptick in SOL’s price, though broader market conditions tempered the gains. Still, this development marks a positive shift in sentiment for Solana, which had been hovering near $155.
Robinhood Crypto’s general manager, Johann Kerbrat, expressed his excitement about the integration.