Solana

DeFi

Old Bitcoin

<p class="is-style-lead">Binance has announced its entry into Solana’s staking ecosystem with the upcoming launch of its own Liquid Staking Token.</p> 
<p>The LST will be named BNSOL. This move <a href="https://x.com/binance/status/1829111814094741707" target="_blank" rel="">signals</a> Binance’s deeper integration into the Solana (<a href="https://crypto.news/price/solana/">SOL</a>) network, which has been gaining momentum in recent months. As the world’s largest cryptocurrency exchange, Binance’s involvement in Solana’s ecosystem is significant.</p> 
<p>Based on X posts, the LST will be done <a href="https://x.com/sanctumso/status/1829116242256650312" target="_blank" rel="">in partnership</a> with Sanctum.&nbsp;</p> 
<p>An LST allows users to stake their crypto while still maintaining liquidity. Instead of locking up assets, users receive a token — like BNSOL — representing their staked amount, which they can trade or use in <a href="https://crypto.news/tag/DeFi/" data-type="link" data-id="https://crypto.news/tag/DeFi/" target="_blank" rel="noreferrer noopener">DeFi</a> protocols.&nbsp;</p> 
<p>This enables crypto users to earn staking rewards without losing access to their capital.</p> 
<p>The token’s value will grow relative to SOL, allowing users to participate in DeFi projects on <a href="https://crypto.news/tag/Binance" data-type="link" data-id="https://crypto.news/tag/Binance" target="_blank" rel="noreferrer noopener">Binance</a> and other decentralized platforms without losing out on staking yields.</p> 
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   <p lang="en" dir="ltr">INTEL: Binance is set to launch its own Solana LST, <a href="https://twitter.com/search?q=%24BNSOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BNSOL</a>, through Sanctum <a href="https://twitter.com/search?q=%24CLOUD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$CLOUD</a></p>— Solid Intel 📡 (@solidintel_x) <a href="https://twitter.com/solidintel_x/status/1829132680060895700?ref_src=twsrc%5Etfw" target="_blank" rel="">August 29, 2024</a>
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<p> You might also like: <a href="https://crypto.news/dtx-testnet-makes-headlines-polygon-and-sol-prices-stagnate/"> DTX testnet makes headlines; Polygon and SOL prices stagnate </a> </p> 
<h2 class="wp-block-heading" id="what-this-means-for-solana">What this means for Solana</h2> 
<p>For Solana, this development could mean an influx of liquidity as Binance’s vast user base gains easier access to staking SOL.&nbsp; The move could enhance Solana’s market presence, potentially boosting its adoption and decentralization efforts.&nbsp;</p> 
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   <p lang="en" dir="ltr">🚨BREAKING: <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" target="_blank" rel="">@Binance</a> hints at <a href="https://twitter.com/search?q=%24BNSOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BNSOL</a> launch, a liquid staking token on the <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" target="_blank" rel="">@Solana</a> blockchain. <a href="https://t.co/nFqMtu4sYr" target="_blank" rel="">pic.twitter.com/nFqMtu4sYr</a></p>— SolanaFloor (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1829154328747368594?ref_src=twsrc%5Etfw" target="_blank" rel="">August 29, 2024</a>
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<p>Given Binance’s influence, the introduction of BNSOL might also stimulate further innovations and integrations within the Solana ecosystem, making it a more attractive option for both new and existing investors​.</p> 
<p> You might also like: <a href="https://crypto.news/analyst-old-bitcoin-movements-should-stop-to-help-price-surge/"> Analyst: Old Bitcoin movements should stop to help price surge </a> </p>

Binance to launch BNSOL, expand staking opportunities on Solana

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