Solanas Liquid Staking Tokens Gain Momentum As Major Exchanges Announce New Offerings
Solanas staking ecosystem is gaining significant attention, with several major exchanges announcing the launch of Liquid Staking Tokens (LSTs) on the Solana blockchain.
Bybit recently revealed the upcoming release of bbSOL, a liquid staking token that users can obtain by staking SOL on Bybit Web3. Following Bybits lead, both Bitget and Binance have hinted at launching their own LSTs, BGSOL and BNSOL, respectively.
Solanas staking and re-staking have received attention from exchanges. Bybit announced the upcoming launch of bbSOL, a liquid staking token. By staking SOL on Bybit Web3, people can get bbSOL tokens. Bitget and Binance also hinted at the upcoming launch of BGSOL and BNSOL.
Wu Blockchain (@WuBlockchain) August 29, 2024
Bitgets tease of the BGSOL launch marks the third exchange in a single day to announce a liquid staking token on Solana.
BREAKING: @bitgetglobal exchange teases the launch of $BGSOL.
This marks the 3rd exchange to announce the launch of an LST (Liquid Staking Token) on @Solana in a single day. pic.twitter.com/qrLgQcWN33
SolanaFloor (@SolanaFloor) August 29, 2024
Meanwhile, Binance has dropped hints about its upcoming BNSOL, further solidifying the growing interest in Solanas staking capabilities across the exchange community.
BREAKING: @Binance hints at $BNSOL launch, a liquid staking token on the @Solana blockchain. pic.twitter.com/nFqMtu4sYr
SolanaFloor (@SolanaFloor) August 29, 2024
Solana Ecosystem Experiences Massive Growth In Other Areas
Beyond the excitement surrounding LSTs, Solanas ecosystem is also experiencing notable growth in other areas. The Solana-based prediction market, BET on DRIFT, developed by Drift Protocol, has recently surpassed Polymarket in 24-hour trading volume for the first time. BET on DRIFT recorded an impressive $20 million in volume, outperforming Polymarket, which managed $12.4 million in the same period.
BREAKING: Solana based prediction market BET on DRIFT by @DriftProtocol has surpassed @Polymarket in 24-hour volume for the first time.
BET on DRIFT: $20M
Polymarket: $12.4M pic.twitter.com/PHnLhK7Ujd
SolanaFloor (@SolanaFloor) August 29, 2024
This surge in activity is mirrored by Solanas increasing user engagement. The number of Monthly Active Addresses on the Solana network recently reached a new all-time high, surpassing 35 million. This milestone reflects the platforms expanding user base and growing influence in the blockchain space.
BREAKING: @Solana Monthly Active Addresses hits a new all-time high. pic.twitter.com/qOugSL5C4t
SolanaFloor (@SolanaFloor) August 28, 2024
As Solana continues to attract attention with its innovative staking solutions and active user community, the introduction of new LSTs by major exchanges like Bybit, Bitget, and Binance is set to enhance the networks appeal further. These developments indicate that Solana is not only maintaining its momentum but also laying the groundwork for sustained growth and adoption in the rapidly evolving crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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