PayPal has officially added Solana (SOL) and Chainlink (LINK) to its crypto services in the United States. Users can now buy, sell, and hold these assets directly through the platform. Previously, customers could only purchase SOL and LINK via MoonPay, using PayPal as a payment method.
This move marks another step in PayPal’s growing involvement in crypto, which began in 2020. The firm’s decision reflects increased confidence in digital assets, fueled in part by the crypto-friendly stance of the Trump administration.
Boosting Adoption for Solana and Chainlink
With over 300 million US users, PayPal’s support could drive broader adoption of these altcoins.
- Solana (SOL): Known for its high transaction speeds, Solana enables seamless interaction with DeFi and decentralized apps (dApps).
- Chainlink (LINK): A decentralized oracle network, Chainlink connects smart contracts with real-world data, enhancing blockchain functionality.
PayPal has yet to make an official announcement, but the update is now listed in its FAQ section.
Will Solana and Chainlink Prices Recover?
Despite the PayPal listing, both SOL and LINK have faced selling pressure, dropping over 5% each.
- Solana (SOL): Down 6.33%, trading at $115, with a 140% surge in trading volume to $6.7 billion. Analysts warn that SOL’s trendline support is weakening, which could lead to a potential breakdown.
- Chainlink (LINK): Down 5.21%, trading at $12.71, with a 54% increase in trading volume to $625 million. Analysts predict a 35% price move soon, with a possible breakout in either direction.
What’s Next?
PayPal’s latest move could increase market exposure for Solana and Chainlink, but short-term price volatility remains high. Investors will be watching for further adoption trends and technical indicators to gauge where prices are headed next.
