Solana Liquid Staking Tokens Hit $8 Billion in Market Value–2024
- Solana’s Liquid Staking Tokens show significant growth, led by dominant players in the market.
- Liquid staking adoption remains limited, highlighting untapped potential in decentralized finance.
- Increased demand and activity spikes reflect growing interest in liquid staking solutions.
Solana Liquid Staking Tokens (LSTs) have experienced a surge in market capitalization, reaching $8 billion in 2024. This marks substantial growth in the sector over the past two years.
Despite Solana’s 60% staking ratio, only 6% of staked tokens are from liquid staking solutions. This leaves significant capital unused for decentralized finance (DeFi) applications. Dominant players in the space, such as JitoSOL, mSOL, and jupSOL, have fueled this expansion. JitoSOL alone holds 41.5% of the market share.
Liquid Staking Growth: Exponential Rise
The Solana LST market has grown significantly since Decem…
The post Solana Liquid Staking Tokens Hit $8 Billion in Market Value–2024 appeared first on Coin Edition.
Read More
Solana Liquid Staking Tokens Hit $8 Billion in Market Value–2024
- Solana’s Liquid Staking Tokens show significant growth, led by dominant players in the market.
- Liquid staking adoption remains limited, highlighting untapped potential in decentralized finance.
- Increased demand and activity spikes reflect growing interest in liquid staking solutions.
Solana Liquid Staking Tokens (LSTs) have experienced a surge in market capitalization, reaching $8 billion in 2024. This marks substantial growth in the sector over the past two years.
Despite Solana’s 60% staking ratio, only 6% of staked tokens are from liquid staking solutions. This leaves significant capital unused for decentralized finance (DeFi) applications. Dominant players in the space, such as JitoSOL, mSOL, and jupSOL, have fueled this expansion. JitoSOL alone holds 41.5% of the market share.
Liquid Staking Growth: Exponential Rise
The Solana LST market has grown significantly since Decem…
The post Solana Liquid Staking Tokens Hit $8 Billion in Market Value–2024 appeared first on Coin Edition.
Read More