The Bitcoin staking platform Solv Protocol has achieved a historic milestone as its total value locked (TVL) surpasses $2 billion, with nearly 30,000 BTC currently locked on the platform. This record comes as Bitcoin breaks its all-time high, reaching over $75,000. The surge in Bitcoin's price has led to more Bitcoin holders staking their funds on platforms like Solv Protocol. Solv Protocol simplifies the staking process through its Staking Abstraction Layer, allowing users to access liquid staking tokens (LSTs) and participate in DeFi while maintaining liquidity. Although demand for Bitcoin staking is growing, it still lags behind Ethereum-based platforms. However, Solv co-founder Ryan Chow suggests that if Bitcoin's staking rate were to reach similar levels to Ethereum, it could unlock up to $330 billion in value.
- Content Editor ( thecryptobasic.com )
- 2024-11-06
Bitcoin Staking Platform Solv Hits Historic $2.2B TVL as BTC Peaks at $75K