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Binance Integrates Solana Network into Web3 Wallet
Binance has announced the integration of the Solana network into its Web3 Wallet. By integrating the Solana network, Binance aims to transform its Web3 Wallet into a comprehensive, multi-chain, self-custodial wallet capable of meeting the diverse Web3 needs of its users.
Access to Multiple Blockchain Networks
With this integration, users gain access to a broader range of blockchain networks, including those based on Bitcoin (BTC), EVM, and Cosmos (ATOM).
Token Swaps on Solana
Binance Web3 Wallet users can now send, receive, and swap tokens on the Solana network. Additionally, they can explore and utilize various Solana-based decentralized applications (dApps).
Solana-based dApps on Binance Web3 Wallet
- Drift
- Dual Finance
- Jito
- Jupiter
- Magic Eden
- MarginFi
- Orca
- PsyOptions
- Pyth Network
- Raydium
More dApps will be progressively added over time, the exchange said.
dApp Hub and UI Redesign
Binance introduced the ‘dApp Hub,’ a user interface (UI) overhaul, as part of the integration. The UI redesign consolidates all trending dApps into a single tab, providing users with a seamless experience to explore and interact with popular dApps securely.
Solana DEX Activity Soars
Solana has become the second-largest in terms of DEX trading volume, surpassing popular networks like Binance Smart Chain and Arbitrum. Solana DEXes recorded over $2.27 billion in trading volume over the past day, coming second in the list.
Increased Developer Activity on Solana
The Solana ecosystem now boasts more than 2,500 monthly active developers, according to the Solana Foundation. The network has maintained a consistent range of 2,500 to 3,000 monthly active developers throughout the past year, a testament to the ecosystem’s ability to attract and retain talent.
Solana Surpasses Ethereum in Stablecoin Trading Volume
The network has surpassed Ethereum (ETH) in 7-day stablecoin trading volume for the first time ever. The value of stablecoin transfers on Solana reached a staggering $103 billion in the first week of January, outperforming all other networks.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
