Marinade

Orca

Following a set of partnerships and announcements, Marinade.Finance’s native token MNDE jumped by over 170% in just one day. 
<a href="https://crypto.news/tag/solana" target="_blank" rel="noreferrer noopener">Solana</a>-based staking protocol Marinade.Finance has achieved a significant milestone, reaching 10 million SOL tokens ($716 million as of press time) locked in its pools for <a href="https://crypto.news/tag/staking/" target="_blank" rel="noreferrer noopener">staking</a>. According to Marinade.Finance’s <a href="https://twitter.com/MarinadeFinance/status/1732857227306799441?s=20" target="_blank" rel="noopener">announcement on X</a>, users allocated over 6.5 million tokens in mSOL liquid staking and the remaining 3.5 million tokens in the Marinade Native pool. 
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 That's over 10M SOL staked with a network of 100+ high-performing validators in a decentralized manner. +6.5M in mSOL liquid staking +3.5M in Marinade Native Whichever you choose, you're getting a high-performance, optimized staking strategy. 👉 <a href="https://t.co/X7Qoz5O6KV" target="_blank">https://t.co/X7Qoz5O6KV</a>— Marinade (@MarinadeFinance) <a href="https://twitter.com/MarinadeFinance/status/1732857227306799441?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 7, 2023</a>
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 You might also like: <a href="http://Solana outpaces Ethereum layer-2s in trading volume; whales turn to AI altcoin" target="_blank"> Solana outpaces Ethereum layer-2s in trading volume; whales turn to AI altcoin </a> 
According to <a href="https://defillama.com/chain/Solana" target="_blank" rel="noreferrer noopener">data</a> from DefiLlama, the latest influx of tokens made Marinade the largest protocol in terms of total value locked (TVL) among Solana-based projects, with a 66.5% surge in TVL over the past month. 
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 <img loading="lazy" decoding="async" width="1024" height="376" src="https://crypto.news/app/uploads/2023/12/bdufighgdfg-1024x376.png" alt="MNDE token up 170% as Marinade staking pool reaches 10m SOL - 32" class="wp-image-14225101">
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 Marinade Finance TVL | Source: DefiLlama
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In addition to the announcement, the Marinade team revealed it had also joined forces as a partner of the Cross-Chain Ecosystem Fund, powered by web3 investment manager Borderless and blockchain platform Wormhole. The idea of the initiative is to build a “more aggregated and interconnected web3 ecosystem,” Marinade.Finance <a href="https://x.com/MarinadeFinance/status/1732781097845457231?s=20" target="_blank">said in an X post</a>. 
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 <img loading="lazy" decoding="async" width="923" height="422" src="https://crypto.news/app/uploads/2023/12/gauogdsyuh.png" alt="MNDE token up 170% as Marinade staking pool reaches 10m SOL - 33" class="wp-image-14225104">
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 MNDE price USD | Source: CoinGecko
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The series of announcement affected Marinade’s native token MNDE, which surged in a moment by over 170% up to $0.66 in less than 24 hours, according to CoinGecko. With the latest price increase, the token’s market capitalization now stands at $151.4 million. 
Founded in 2021 as a Solana Hackathon project, Marinade.Finance allows users to optimize their SOL stake using its automated staking strategy. Users can choose between staking natively or liquid stake SOL for mSOL, a liquid staking token. 
 Read more: <a href="https://crypto.news/marinade-and-orca-finance-ban-uk-user-access-amid-fca-regulatory-concerns/"> Marinade and Orca Finance ban UK user access amid FCA regulatory concerns </a>

MNDE token up 170% as Marinade staking pool reaches 10m SOL

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