Solana surged more than 5% in the wake of retail payment giants Paypal and Venmo rolling out Sol support on Friday, despite the slowdown in Crypto Market.
PayPal announced on Friday that users of both payment platforms will be able to purchase, sell, retain and forward SOL and links, native assets of decentralized Oracle Platform Chain Links.
The link jumped over 1% on Friday and is trading at $13.00 at the time of writing. Meanwhile, Sol rose from $117.15 to a high of $124, before closing the trading day at $122.78.
In comparison, each Coingecko data has immersed a crypto market capitalization of nearly 1% over the past 24 hours and almost 2% over the past week.
Crypto prices have fallen as President Donald Trump's new tariffs rattle global markets. Trump signed an executive order on Wednesday, slapping a baseline fee of 10% of all imports entering the US, along with a clear goal of protecting domestic manufacturing.
He also issued a declaration detailing “mutual tariffs” in dozens of specific countries on April 9th, with the rate increasing to up to 54% in China.
PayPal acquired Venmo's parent company Braintree for $800 million in 2013. In addition to Link and Sol, payment companies also support Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Stubcoin Paypal USD (PYUSD).
Generated Image: Midjourney
