Cryptocurrency exchange Coinbase adds JitoSOL and MPLX to its platform, yet market response remains sluggish.
Coinbase Lists JitoSOL and MPLX on July 24, 2025
Coinbase, the leading cryptocurrency exchange, is set to list two new tokens - JitoSOL and MPLX - on its platform from July 24, 2025, at 9 AM PT. The announcement has generated a wave of excitement in the cryptocurrency community, particularly in the Solana ecosystem.
JitoSOL: A Staked Derivative of Solana’s SOL Token
JitoSOL, a staked derivative of Solana’s SOL token, is one of the tokens set to be listed by Coinbase. The listing is part of Coinbase's strategic approach to expand its Solana token offerings. This move aims to reduce volatility by pre-announcing listings and phasing in trading based on liquidity.
Following the announcement, JitoSOL's price surged by 33%, reflecting initial bullish sentiment and renewed attention to the Solana NFT space. However, technical indicators suggest short-term caution for JitoSOL despite the broader enthusiasm.
MPLX: The Governance Token for Metaplex
MPLX, the governance token for Metaplex and a key player in Solana's NFT ecosystem, has also been listed by Coinbase. The token experienced notable interest, with the broader Solana NFT market showing signs of recovery. However, some technical indicators, such as bearish MACD signals and lack of significant whale activity, suggest uncertainty ahead of the listing.
A Cautiously Optimistic Market Outlook
The current market sentiment for both JitoSOL and MPLX after their Coinbase listing is cautiously optimistic with signs of increased interest but some mixed short-term signals. The sustained market movement for these tokens will depend on how the community and institutions respond in the days ahead.
The momentum of JitoSOL is cooling after the announcement, while social sentiment surrounding JitoSOL has been bullish, largely driven by staking yields and growing integrations. On the other hand, Metaplex powers decentralized NFT infrastructure on Solana, and the MPLX token plays a role in governance and ecosystem development.
Phased Rollout and Regional Restrictions
Coinbase’s phased trading approach and regional restrictions mean that full trading may unfold gradually, affecting immediate liquidity and price response. Users in restricted regions may not access the tokens despite the listing. Transfers for both tokens will be limited to SPL-compatible addresses only.
In conclusion, the listings of JitoSOL and MPLX have generated positive market buzz, especially reflected in price jumps and social media attention right after Coinbase's announcement. However, some technical market indicators and gradual rollout temper immediate exuberance, implying a cautiously optimistic outlook in the short term as liquidity conditions evolve.
[1] Coinbase Blog: Introducing Jito Staked SOL (JitoSOL) and Metaplex (MPLX) (https://blog.coinbase.com/introducing-jito-staked-sol-jitosol-and-metaplex-mplex-5dc73c740c5d)
[4] CoinDesk: Coinbase to List JitoSOL and MPLX, but Trading Availability Depends on Jurisdiction (https://www.coindesk.com/business/2025/07/21/coinbase-to-list-jitosol-and-mplx-but-trading-availability-depends-on-jurisdiction/)
JitoSOL, a staked derivative of Solana's SOL token, and MPLX, the governance token for Metaplex, have been listed on Coinbase, marking a strategic expansion of Coinbase's Solana token offerings. Post-listing, JitoSOL's price surged while MPLX showed signs of renewed interest, but technical indicators hint at short-term caution for both tokens.
