Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Three major crypto exchanges teased the launch of new Solana-based products. The trading platforms shared mysterious hints on their official X accounts, suggesting their entry to Solana\u2019s Liquid Staking ecosystem. The news received a positive reaction from the crypto community, seemingly fueling a bullish sentiment among SOL investors. Related Reading: TON-Based Memecoin DOGS Becomes Top 100 Largest Gainer With 30% Jump Exchanges Hint At New Solana-Based Products On Thursday, crypto exchanges Binance, Bybit, and Bidget created a buzz among crypto investors after hinting at the launch of new Solana-based products. Binance, the largest crypto exchange by trading volume, was the first to announce the mysterious partnership with two X posts stating \u201cBNSOL,\u201d and \u201cComing soon.\u201d The crypto community quickly speculated about the meaning of the post, wondering about the collaboration. Soon after, Bybit and Bitget posted similar messages. Bybit stated it was \u201cwelcoming a new baby to the family\u201d named bbSOL, while Bitget teased that \u201csomething BG is coming #BGSOL.\u201d Despite not having further details, the community concluded the exchanges will launch Liquid Staking Tokens (LSTs), based on Sanctum\u2019s comments. The Solana-based Liquid Staking Protocol replied to the news, hinting at its involvement in the project. In a reply to Bybit\u2019s post, the Liquid Staking protocol said it was \u201cready to help this bbSOL grow big and strong.\u201d This suggests that the exchanges are entering the Solana Liquid Staking ecosystem. The BNSOL, BGSOL, and bbSOL LSTs would allow users to stake their tokens and receive rewards while continuing to participate in other DeFi projects. The tokens would offer investors flexibility, as they would have access to liquidity without unstaking their tokens. Major Boost For SOL Price Coming? Following the announcements, the crypto community expressed a positive sentiment towards SOL. Many shared their excitement about the products, calling them \u201cbullish\u201d for the Solana ecosystem. Meanwhile, others suggested that positive competition was brewing in Solana\u2019s Liquid Staking sector. The bullish sentiment seemingly translated to CLOUD, Sanctum\u2019s governance token. The Liquid Staking protocol\u2019s token soared 56% following the announcement. CLOUD saw a massive surge from the $0.16 price range to the $0.25 mark before stabilizing above the $0.24 level. Similarly, some community members noted that the crypto exchanges appear to see significant potential in SOL\u2019s performance. SOL quickly surged to the $147 range, a 4.2% increase from Wednesday\u2019s lows. Despite the positive sentiment, the price retraced to the $145 support zone before unsuccessfully retesting the daily high a second time. Nonetheless, investors believe that the recently announced tokens could bring a significant inflow of liquidity as the crypto exchanges have a massive user base. Moreover, the TSLs could accelerate Solana\u2019s Liquid staking sector\u2019s expansion and boost its adoption by retail users. The fifth-largest cryptocurrency by market capitalization had its price recovery halted by the most recent market shakeout. SOL\u2019s price lost the $160 support zone and revisited the $140 level as Bitcoin slipped to $58,000 two days ago. Related Reading: RENDER Soars 30% In A Week, Here\u2019s Why Experts Forecast A Massive Pump As a result, some market watchers remain cautious about the token\u2019s short-term performance but suggest that SOL might aim for new heights in the coming months. As of this writing, the cryptocurrency trades at $145, a 2% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":610298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,84195,87840,82819,1358,89480,88078,92985,92986,12837,83626,84595,92984,83627],"class_list":["post-638644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-binance-crypto-exchange","tag-bitget","tag-bybit","tag-cloud","tag-liquid-staking-protocol","tag-liquid-staking-tokens","tag-lst","tag-sanctum","tag-sol","tag-solana","tag-solana-blockchain","tag-solana-liquid-staking","tag-solusdt"],"acf":[],"yoast_head":"\n
Solana Liquid Staking Tokens Teased By Major Crypto Exchanges<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n