Surprisingly more than 93% of the tokens in circulation in Solana appear to have been staked by investors. A report released on December 2 by StakeRewards shows that 395.88 million SOL have been staked in the protocol.@Btcnews99
This stake amount amounts to 93.33% of the 424.21 million SOL that make up Solana's circulating supply. Furthermore, StakingRewards states that SOL has a staking market value of $24.64 billion and a market capitalization of $26.43 billion.
In only one month, Solana's Total Locked Value (TVL) from the DeFi ecosystem climbed by 63%, and in just one week, it soared by 12.24%. On December 2, these numbers were acquired from DefiLlama.
SOL is now at the top of the list thanks to this TVL rise. Specifically, SOL fared better than other chains, displacing Avalanche (AVAX) in seventh place with a locked value of $678.7 million and its use in protocols.
The market's growing interest in and demand for SOL may be shown by the high staking rate and TVL growth. It also shows how confident investors are in the protocol and how ready they are to lock in their liquidity over the long run. Coinbase, a well-known cryptocurrency exchange, declared their support for Solana in keeping with this.
Solana (SOL) is showing impressive performance in spite of regulatory demands.
Over 93% of the circulating tokens in Solana have been staked by investors.
TVL for Solana has climbed dramatically, showing rising demand and interest.#
Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry risks due to their high volatility and should conduct their own research before making any transactions.
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