Solana Liquid Staking Tokens reach a $5.67 billion market cap.
JitoSOL dominates Solana’s liquid staking with a 42.9% market share.
The liquid staking ratio on Solana rises to 8.10%, an all-time high.
Solana’s liquid staking ecosystem has skyrocketed, hitting a $5.67 billion market cap. With a liquid staking ratio of 8.10%, Solana’s liquid staking sector continues to set new records. The uptick in the network has led to a surge in staking token, JitoSOL, which currently holds a nearly 43% market share.
BREAKING: The Total Market Cap of @Solana Liquid Staking Tokens (LSTs) surges to $5.67 billion, a new all-time high.
Top LSTs by market share:
• $JitoSOL: 42.9%
• $mSOL: 16.8%
• $jupSOL: 12% pic.twitter.com/CUwy1VMvwq
— SolanaFloor (@SolanaFloor) November 7, 2024
Read also: Solana Pushes Past BNB to 4th Spot With $87.9B Cap, DOGE Battles XRP for 7th
Liquid Staking’s Appeal
Liquid staking lets stakers lock their assets while retaining the option to trade them. This enhances flexibility and can increase staking returns. In addition to JitoSOL, other notable tokens are Marinade’s mSOL, with a 16.8% share, and jupSOL with 12%. This increase …
The post Solana’s Liquid Staking Surges to $5.67 Billion Market Cap, JitoSOL Leads the Way appeared first on Coin Edition.
