{"id":28671,"date":"2023-08-24T15:52:34","date_gmt":"2023-08-24T19:52:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28671"},"modified":"2023-08-24T15:52:34","modified_gmt":"2023-08-24T19:52:34","slug":"sol-tallies-5-gains-in-one-day-after-shopify-integrates-solana-pay","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/24\/sol-tallies-5-gains-in-one-day-after-shopify-integrates-solana-pay\/","title":{"rendered":"SOL Tallies 5% Gains In One Day After Shopify Integrates Solana Pay"},"content":{"rendered":"

Following the recent downtrend<\/a> in the crypto market, Solana\u2019s native token, SOL, recorded heavy losses in the past few days. But now the token\u2019s price moves on the daily chart showed the formation of a green candlestick yesterday after many days of posting vivid red ones.\u00a0<\/p>\n

According to current stats, SOL\u2019s price has decreased by over 7% in the past week. But from August 23, the coin started an uptrend reflected in its 24-hour price change of 5.75% today, August 24. Notably, the recent news about Shopify\u2019s integration of Solana Pay seemingly reignites investors\u2019 confidence in SOL.\u00a0\u00a0<\/p>\n

Millions Of Businesses On Shopify Can Now Use Solana Pay<\/h2>\n

Solana Labs launched its decentralized payment platform, Solana Pay<\/a>, on the layer-1 blockchain in February 2022 and now,\u00a0Solana Pay\u2019s plug-in is now available<\/a> on Shopify. This allows millions of businesses using the e-commerce giant to use the service for payments.\u00a0<\/p>\n

Related Reading: Pantera CEO Calls Ripple Victory A Black Swan, But Is It Bad?<\/a><\/p>\n

According to the reports, the first crypto option for users will be the second-largest stablecoin in the market, USDC. Given its stability and close value to USD, it was chosen as the first to appear on the platform.\u00a0<\/p>\n

However, Shopify\u2019s business development and partnerships head, Josh Fried, revealed that more crypto assets such as BONK and SOL will soon be available.\u00a0<\/p>\n

Fried also shared with an online news site, TechCrunch, that transactions on Solana Pay are very affordable, given how low the ecosystem charges.<\/p>\n

Fried said:<\/p>\n

Credit card processing fees usually cost a business between 1.5% and 3.5% per transaction, but using the Solana Pay option is practically \u201cfee-free.<\/p>\n

Also, he applauded Solana Pay as a crypto app worth using, saying, \u201cSome people argue the killer app for crypto hasn\u2019t arrived, but it has: it\u2019s payments. [Everyone] should be doubling down on this.\u201d<\/p>\n

Will SOL\u2019s Current Uptrend Continue?<\/h2>\n

Shopify is a globally recognized platform with a 10% share of the United States\u2019 e-commerce industry. So Solana Pay\u2019s entrance into the e-commerce giant\u2019s hub is expected to boost the ecosystem\u2019s exposure and utility.\u00a0<\/p>\n

Already, there are more than 11 million active accounts<\/a> on Solana and the ecosystem is also a player in the NFT sector, with over 21 million assets minted. It also offers low transaction costs at $0.00025.\u00a0<\/p>\n

These capabilities and continual adoption by top giants in diverse industries will likely push SOL\u2019s price upwards in the coming days.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Following the recent downtrend<\/a> in the crypto market, Solana\u2019s native token, SOL, recorded heavy losses in the past few days. But now the token\u2019s price moves on the daily chart showed the formation of a green candlestick yesterday after many days of posting vivid red ones.\u00a0<\/p>\n

According to current stats, SOL\u2019s price has decreased by over 7% in the past week. But from August 23, the coin started an uptrend reflected in its 24-hour price change of 5.75% today, August 24. Notably, the recent news about Shopify\u2019s integration of Solana Pay seemingly reignites investors\u2019 confidence in SOL.\u00a0\u00a0<\/p>\n

Millions Of Businesses On Shopify Can Now Use Solana Pay<\/h2>\n

Solana Labs launched its decentralized payment platform, Solana Pay<\/a>, on the layer-1 blockchain in February 2022 and now,\u00a0Solana Pay\u2019s plug-in is now available<\/a> on Shopify. This allows millions of businesses using the e-commerce giant to use the service for payments.\u00a0<\/p>\n

Related Reading: Pantera CEO Calls Ripple Victory A Black Swan, But Is It Bad?<\/a><\/p>\n

According to the reports, the first crypto option for users will be the second-largest stablecoin in the market, USDC. Given its stability and close value to USD, it was chosen as the first to appear on the platform.\u00a0<\/p>\n

However, Shopify\u2019s business development and partnerships head, Josh Fried, revealed that more crypto assets such as BONK and SOL will soon be available.\u00a0<\/p>\n

Fried also shared with an online news site, TechCrunch, that transactions on Solana Pay are very affordable, given how low the ecosystem charges.<\/p>\n

Fried said:<\/p>\n

Credit card processing fees usually cost a business between 1.5% and 3.5% per transaction, but using the Solana Pay option is practically \u201cfee-free.<\/p>\n

Also, he applauded Solana Pay as a crypto app worth using, saying, \u201cSome people argue the killer app for crypto hasn\u2019t arrived, but it has: it\u2019s payments. [Everyone] should be doubling down on this.\u201d<\/p>\n

Will SOL\u2019s Current Uptrend Continue?<\/h2>\n

Shopify is a globally recognized platform with a 10% share of the United States\u2019 e-commerce industry. So Solana Pay\u2019s entrance into the e-commerce giant\u2019s hub is expected to boost the ecosystem\u2019s exposure and utility.\u00a0<\/p>\n

Already, there are more than 11 million active accounts<\/a> on Solana and the ecosystem is also a player in the NFT sector, with over 21 million assets minted. It also offers low transaction costs at $0.00025.\u00a0<\/p>\n

These capabilities and continual adoption by top giants in diverse industries will likely push SOL\u2019s price upwards in the coming days.\u00a0<\/p>\n

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