SOL Jumps 13% Amid Charles Schwab Trading Plans and Solana Deflationary Vote

Solana (SOL) is the top gainer among the top 10 cryptocurrencies by market cap today, surging 13.4% on the back of Charles Schwab’s plans to launch SOL trading and the successful passage of a deflationary proposal.

Source: CoinPedia

Charles Schwab introduces Solana trading

Charles Schwab, America’s second-largest investment management firm (commanding over $13 trillion in total client assets), announced today its plans to offer Solana spot trading in the upcoming months.

Back in May, the company rolled out spot crypto trading on its platform, but this was limited to Bitcoin (BTC) and Ethereum (ETH). Later in June, Schwab launched 24/7 futures trading for Solana and XRP.

The latest news now increases the number of spot crypto offerings to five, with plans to launch Avalanche (AVAX) and Chainlink (LINK) trading alongside that of SOL.

Notably, Schwab will charge a 0.75% flat fee on the dollar value of every transaction, with trading seamlessly unified across its website, mobile app and thinkorswim platform. Clients across all US states are eligible for these Schwab crypto accounts, with the exception of New York and Louisiana.

Passage of economic proposals

Another major occurrence in the Solana ecosystem today is the voting and successful passage of three landmark economic proposals in Epoch 1023.