CandleFocus

Binance SOL Liquid Staking Token Surpasses $1 Billion in Total Value Locked

Author: Content Editor
The Solana liquid staking token BNSOL, offered by Binance, has surpassed $1 billion in total value locked (TVL), making it a major player in the Solana liquid staking ecosystem. BNSOL represents over 10% of the market cap of all Solana liquid staking tokens. The expansion of Solana's ecosystem has contributed to BNSOL's success, with the liquid staking ratio more than doubling in 2024 and an estimated market valuation of $8 billion. BNSOL has gained popularity among Binance users due to its high returns and wide range of applications. It currently has over 4.8 million SOL staked, making it the largest exchange-backed SOL liquid staking token. BNSOL offers various features, such as trading, lending, liquidity farming, and collateral usage, with low gas fees and zero staking fees until the end of 2024. It is integrated with over 20 Web3 projects and protocols, including Binance's centralized exchange and Binance wallet. Binance plans to further develop BNSOL's position in 2025 through protocol integrations and innovative use cases.

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