Solflare integrates PhoenixTrade Perps, boosting Solana leveraged market access

https://www.solflare.com/guides/solflare-mobile-vs-web-which-one-should-you-use/ Solflare has integrated PhoenixTrade Perps into its mobile wallet, allowing users to access over 65 leveraged markets through an onchain orderbook on the Solana blockchain. This integration, announced via social media by @SolanaFloor, enhances the accessibility of Phoenix Trade’s non-custodial perpetual futures exchange for users within the Solana ecosystem. By leveraging Solflare’s mobile platform, users can now interact directly with Phoenix’s leveraged markets, which are supported by USDC collateral. This move extends the reach of an existing onchain derivatives venue, potentially increasing engagement with Solana’s leveraged capabilities. The development comes as Solana’s market participants weigh the potential impact on SOL’s price, particularly in light of recent increased onchain activity and a notable rise in the burning of SOL tokens. Market pricing suggests that the integration could contribute to a positive sentiment around Solana, although the effect is moderated by the news originating from a Tier 3 source. Currently, the prediction market on whether Solana will reach $160 in August shows ...