Two crypto exchanges, namely Binance and Bybit have signaled the launch of new Solana-related products. They are likely to enter the Solana liquid staking market. Read more!

Is There a Chance of Binance and Bybit Entering Solana's Liquid Staking Product?

<img src="https://static.bittime.com/cms-static/upload/Is_There_a_Chance_of_Binance_and_Bybit_Entering_Solana_s_Liquid_Staking_Product_33d4d6afff.webp" alt="Is There a Chance of Binance and Bybit Entering Solana's Liquid Staking Product.webp" width="2048" height="1152"><meta charset="utf-8"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> -&nbsp;The Solana liquid staking market is buzzing with new teasers from major crypto trading platforms.&nbsp; Two crypto exchanges, namely Binance and Bybit have hinted at the launch of new Solana-related products.&nbsp;This sparked speculation that they might enter the Solana liquid staking market.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/airdrop/DOGS?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/dogs_airdrop_2_504a0011ab.webp" alt="dogs airdrop 2.webp" width="2985" height="620"></a><h2 style="line-height:1.7999999999999998;margin-bottom:10pt;margin-top:12pt;text-align:justify;" dir="ltr">Message from Binance and Bybit Social Media</h2>On August 29, the official X Binance account posted the mysterious message "BNSOL" followed by "coming soon" in a subsequent comment.Shortly after, Bybit announced the introduction of a new product, "bbSol," on its platform, stating:"We welcome a new member of the #bbSOL family."While neither exchange provided specific details about the product, the crypto community quickly speculated that this post indicated a move into Solana's liquid staking sector, possibly through a partnership with Solana-based liquid staking protocol Sanctum.Neither Binance nor Bybit have responded to CryptoSlate's request for comment to date.Read also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/cardano-hard-fork-chang-segala-yang-wajib-kamu-ketahui">Cardano Hard Fork Chang: Everything You Need to Know</a><h2 style="line-height:1.7999999999999998;margin-bottom:10pt;margin-top:12pt;text-align:justify;" dir="ltr">Liquid Staking Solana</h2>Unlike traditional staking, liquid staking allows users to earn additional yield while maintaining liquidity through derivative tokens for DeFi activities.&nbsp;According to DefiLlama data, protocols in the sector collectively manage more than $42 billion (Rp. 645 trillion) in crypto, with Ethereum-focused Lido leading the market.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Blog_7d687b658d.webp" alt="Banner Blog.webp" width="2985" height="620"></a>However, interest in Solana liquid staking has recently increased sharply, driven by increasing DeFi activity on the Solana blockchain.Data from Dune Analytics shows that more than $4 billion (Rp. 61 trillion) of SOL tokens is currently staked via liquid staking platforms.&nbsp;However, this only represents around 7% of the total market capitalization of staked Solana tokens, which stands at $62 billion (Rp. 945 trillion) at the time of writing.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Daftar_Bittime_c71afe9bcb.webp" alt="Banner Daftar Bittime" width="2985" height="620"></a>This gap shows significant growth potential in the Solana liquid staking market. If Binance and Bybit launch SOL-based liquid staking products, this could further accelerate the sector's expansion and drive retail access to the market.Notably, Tom Wan, an analyst at 21Shares, previously noted that the sector's growth could have a broader impact on Solana's DeFi ecosystem. He stated that ESG boom could drive DeFi growth on Solana!<h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:10pt;text-align:justify;" dir="ltr">How to Buy Crypto on Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_cara_beli_ab926002c1.webp" alt="cara beli crypto di bittime" width="2985" height="620"></a><meta charset="utf-8">You can buy and sell crypto assets in an easy and safe way via&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a>. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a>, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Learn<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy"> How to Buy Crypto on Bittime</a>.Monitor price chart movements of&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC">Bitcoin (BTC)</a>,&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH">Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL"> Solana (SOL)</a> and other cryptos to find out today's crypto market trends in real-time on Bittime.

Is There a Chance of Binance and Bybit Entering Solana's Liquid Staking Product.

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Is There a Chance of Binance and Bybit Entering Solana's Liquid Staking Product.webp

Liquid staking is an increasingly popular concept in the cryptocurrency world, providing a solution for those who want to profit from staking without losing liquidity on their assets. 

Is There a Chance of Binance and Bybit Entering Solana's Liquid Staking Product?

What is Liquid Staking? Complete Guide for Beginners & Benefits Offered