In a move to enhance liquidity and interoperability, Coinbase’s Ethereum layer-2 network, Base, has launched a new bridge to the Solana blockchain. This connection is secured by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), facilitating seamless asset transfers between the two ecosystems.

Mainnet Launch and App Integration

The bridge is now live on the main network, making it available for developers to integrate into their projects. It’s already being rolled out for public use within several decentralized applications, including Zora, Aerodrome, Virtuals, Flaunch, and Relay. This integration means users can now trade Solana (SOL) and a variety of other Solana-based assets directly on the Base network.

Market Context for SOL and LINK

Despite the technological advancement, the market has shown a mixed reaction. Solana’s SOL token is trading around $138.33, which is more than 50% below its all-time high set in 2021. Similarly, Chainlink’s LINK token experienced a daily drop of around 3% to $14.30. The token remains down approximately 73% from its 2021 peak of nearly $53, reflecting a broader trend of underperformance among many altcoins in the current market cycle.