The reason why SOL could gather ahead

• Coinbase has announced plans to launch cbBTC, a wrapped version of Bitcoin on Solana.
• Sky’s launch of USDS on Solana via Wormhole increases cross-chain liquidity in DeFi.
• Travala’s integration with Solana introduces SOL travel rewards, enhancing the booking experience.

Solana (SOL) price is pulling back slightly, but is holding around $145 on Monday after a 10% gain last week. Multiple announcements support a bullish outlook for SOL, including Coinbase’s plans to launch packaged Bitcoin on the Solana network, Sky (formerly MakerDAO)’s introduction of the USDS stablecoin on Solana, and Travala’s integration with Solana to improve the booking experience. All this points to a bullish outlook for SOL in the coming days.

Coinbase Announces Plans to Launch Wrapped Bitcoin on Solana

Crypto exchange Coinbase at Solana’s Breakpoint event on Saturday announced its plans to launch cbBTC, a wrapped version of Bitcoin on Solana.

Coinbase Wrapped Bitcoin (cbBTC) is an ERC-20 token issued by the Coinbase exchange that allows Bitcoin (BTC) to be used on the Ethereum blockchain. Like other packaged Bitcoin tokens, cbBTC is backed 1:1 with Bitcoin. The actual Bitcoin is held by Coinbase. This token allows BTC holders to participate in Ethereum’s decentralized finance (DeFi) protocols – such as decentralized exchange trading, lending, borrowing and yield farming – without selling their Bitcoin.

cbBTC was officially launched on September 12th and lives directly on the Ethereum and Base network (Coinbase’s layer-2 blockchain). This integration into the Solana network is expected to increase liquidity and trading opportunities for Bitcoin assets on the Solana network, attract more users to the DeFi ecosystem, and potentially increase the total value locked in Solana. Additionally, it can facilitate faster transactions and lower fees, benefiting both the Bitcoin and Solana communities.

Additionally, Sky’s (formerly MakerDAO) launch of the USDS stablecoin on Solana via Wormhole highlights the growing DeFi landscape on the Solana blockchain.

“Sky is coming to Solana, allowing users to benefit from its blazing fast execution and low fees. To interact with Sky on Solana, users can transfer their USDS from Ethereum using supported bridges such as Portal,” Wormhole blogged.

The blog explains: “By connecting their wallets to Sky.money, users can deposit their Solana-based USDS into Sky protocol vaults, which work similarly to those system users are familiar with from the Maker protocol.” These developments and collaboration on the Solana blockchain project have an optimistic outlook as they are expected to attract more users and liquidity to the Solana ecosystem.

Additionally, Solana’s bullish outlook is further supported by Travala’s integration with the Solana blockchain to enhance the booking experience.

On Saturday, Travala, a crypto-native travel booking platform, announced its integration with the Solana blockchain. This will allow users to book flights, hotels and accommodation using Solana-based assets. CEO Juan Otero made the announcement at Solana Breakpoint in Singapore. Following the integration, users can now deposit and withdraw SOL, USDT and USDC on the Solana network directly to and from their Travala accounts, with commission-free transactions for travel bookings.

The aforementioned combination of technological innovation, strategic partnerships, and community engagement projects an optimistic sentiment for Solana Blockchain and its price in the coming days.