CandleFocus Solana’s Liquid Staking Hits 7% ATH, Boosting DeFi Liquidity by $150M+
2024-10-11
Author: Content Editor
Solana's liquid staking ratio has reached an all-time high of 7%, contributing to the liquidity of the DeFi sector. Platforms like Sanctum have lowered the liquidity barrier for liquid staking tokens (LSTs) to enter the market, and Binance and Bybit have contributed $150 million in liquidity to Solana's DeFi environment. Solana has surpassed Ethereum in terms of the percentage of its total supply staked, with 68% staked by September 2024 compared to Ethereum's 28%. Solana's Total Value Locked has surpassed $5 billion, and its staked value has increased from $7.5 billion to $58 billion, indicating growing acceptance and investment confidence in the Solana network. Solana's liquid staking functionality and decrease in entry hurdles have increased its appeal to consumers and driven its DeFi activity. Despite Solana's growth, Ethereum remains the most valuable cryptocurrency in terms of total money staked.
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