Solana's (SOL) price increase of 61% since December 1, 2023 has sparked a lot of attention among market players. Recently there were rumors that Justin Sun, the founder of Tron, gave an update that is likely to further increase the liquidity on the Solana blockchain. The recent SOL price hike has sent Solana's market cap overtaking Binance Coin (BNB) albeit temporarily.
Today, Sun announced that there are plans to integrate the Tron wallet with the Solana blockchain. According to the Tronlink website, the wallet has more than 10,000,000 users worldwide, with support for more than 100,000 tokens.
The speculation comes after reports linking Sun to crypto exchange Huobi Global. In April 2023. Previously there were reports that Justin Sun bought the cryptocurrency exchange for around $1 billion in 2022 after majority shareholder Leon Li sold his shares. However, Tron's founder later denied owning any shares in Huobi. Currently, Tron's founder serves as a global advisor at the exchange.
Interestingly, the announcement from Sun comes at a time when Solana (SOL) appears to have received strong support from institutional investors. At the same time, the crypto market as a whole is facing a possible 'bull run' following the possibility of the United States Securities and Exchange Commission (SEC) approving the first spot Bitcoin ETF in the United States.
