Solana

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/solana-boosts-liquid-staking-rate" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana Boosts Liquid Staking Rate</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/the-current-outlook-for-sol-coin-what-to-expect" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a>, the fifth largest cryptocurrency by market size and the third largest blockchain network, has experienced a 1.76% increase in its liquid staking rate quarter-over-quarter. According to data from DefiLlama, over $54 billion worth of crypto assets are staked on liquid staking platforms. Unlike traditional staking, liquid staking allows users to earn additional returns while maintaining liquidity through a derivative token used in DeFi.</p>
<h2 id="what-is-driving-solana-s-growth">What Is Driving Solana’s Growth?</h2>
<p style="text-align: justify">Data from Dune Analytics reveals that more than 23 million SOL, valued at over $3.6 billion, has been invested in liquid staking platforms. Solana’s staking rate surpasses that of Ethereum, suggesting significant untapped potential and growth opportunities in the liquid staking sector.</p>
<p style="text-align: justify">Another factor contributing to Solana’s popularity is its two-day withdrawal period, which is shorter than many other blockchain networks. Konstantin Boyko-Romanovsky, founder and CEO of Allnodes, emphasized that this shorter period could make Solana more attractive compared to networks like Polkadot or Ethereum, which have longer withdrawal periods.</p>
<h2 id="what-are-key-platforms-contributing-to-this-trend">What Are Key Platforms Contributing to This Trend?</h2>
<p style="text-align: justify">Platforms like Sanctum and Jito Labs are at the forefront of the liquid staking boom on Solana. Analyst Tom Wan noted that Sanctum lowers the entry barrier, enabling projects to create and scale their own liquid staking assets (LSTs). Jito Labs has around 91,000 Solana <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> staking on its platform, with an annual interest yield exceeding 8% and over 10.6 million SOL staked.</p>
<h2 id="insights-for-investors">Insights for Investors</h2>
<p style="text-align: justify">Key takeaways for those considering investment in Solana or liquid staking include:</p>
<ul>
 <li>Solana’s shorter withdrawal period offers quicker liquidity access compared to other blockchains.</li>
 <li>Platforms like Sanctum and Jito Labs are actively contributing to the growth of liquid staking.</li>
 <li>Emerging <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">technologies</a> such as re-staking could enhance the attractiveness of liquid staking.</li>
 <li>Increased liquid staking could potentially lead to higher network security and user engagement for Solana.</li>
</ul>
<p style="text-align: justify">As liquid staking gains traction, Solana stands to benefit from increased user participation and network security. The growing interest in liquid staking could provide Solana with a competitive edge and attract investment from firms. So far, two major applications for a Solana ETF fund have been submitted in the US, signaling potential future growth.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/solana-boosts-liquid-staking-rate" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana Boosts Liquid Staking Rate</a></h5>

Solana Boosts Liquid Staking Rate

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