Binance Staked SOL (BNSOL) recently saw a significant surge, hitting $160 as of mid-October 2024. This growth is largely driven by Binance's strategic moves, including listing BNSOL for trading alongside Solana (SOL) and offering attractive incentives. Binance has also introduced a promotional period with up to a 10% APR for both new and existing BNSOL holders, boosting the appeal of staking on their platform.
The rising demand for BNSOL is a positive signal for the Solana ecosystem, with the token outperforming the overall crypto market over the past week. This upward trend reflects confidence in Solana's growth potential, further supported by Binance's backing.
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