Blazing Solana: Analyst Foresees Nearly 700% Price Explosion<\/a><\/div>\nWith nearly $1.8 billion in staked SOL and 50% Solana LST market share, JTO is ideally positioned to capitalize on the projected growth of Solana\u2019s Liquid staking ecosystem.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\nFeatured image from ByteTree, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"A new report has highlighted the key changes that could follow a significant increase in Solana liquid staking. Driven by strong investor demand, if Solana\u2019s liquid staking were to reach $18 billion, it could significantly benefit Solana (SOL) and Jito (JTO), a liquid staking token on the Solana blockchain, potentially fueling positive momentum and a rise in the value of both altcoins.\u00a0 Related Reading: Get Ready For Take-Off! Shiba Inu Price To Jump 7,350% \u2014 Analyst Adoption Boom To Ignite Solana Liquid Staking Over the past few years, SOL has had an impressive run, outperforming most altcoins while leading the meme coin market with its numerous blockchain-based meme coins. However, the cryptocurrency\u2019s Liquid Staking ratio has remained significantly low compared to Ethereum\u2019s. Only 6.5% of Solana is staked through liquid staking, marking just one-third of Ethereum\u2019s LSTs.\u00a0 In a recent report, Bybit disclosed that while Liquid Staking Tokens (LST) on the Solana blockchain did not experience immediate growth right off the bat, they are now starting to show signs of expansion and dominance in the DeFi landscape.\u00a0 Currently, half of the top 10 largest DeFi protocols by Total Value Locked (TVL) on Solana are now Liquid Staking providers, suggesting a rapid growth in the LST market. Additionally, the total market capitalization of LSTs on Solana has increased to $3.6 billion, reflecting a nearly 16X increase in its value from a year ago.\u00a0 Based on Ethereum\u2019s LST market statistics, Bybit predicts that Solana\u2019s LST market could potentially grow to $18 billion, representing 5X more than its current value. However, this massive surge is dependent on whether Solana\u2019s LST ratio reaches that of Ethereum\u2019s.\u00a0 Given how ambitious a $18 billion surge is, Bybit has considered it a more conservative and potentially attainable estimate. The report has suggested that if Solana\u2019s liquid staking ratio were to grow by only 10%, it would represent a 53% increase in the size of its liquid staking market.\u00a0 For this to happen, Solana\u2019s DeFi ecosystem is expected to gradually expand while the demand for LSTs on the blockchain rises. This increased demand may lead to massive adoption, attracting more developers, users and protocols to the Solana ecosystem.\u00a0 Furthermore, Bybit has highlighted its role in developing and improving the growth of Solana LSTs. To help drive massive adoption in Solana\u2019s LST market and DeFi ecosystem, Bybit has announced its plans to launch its own liquid staking token on the Solana blockchain.\u00a0 Key Players To Gain From Solana\u2019s Liquid Staking Growth Notably, the growth of Solana\u2019s Liquid Staking could greatly influence the price dynamics of both SOL, Solana\u2019s native token and JTO, the native token of Jito. A rise in Solana LSTs signals heightened adoption of the blockchain, which could attract a wave of new investors and users to SOL.\u00a0 This, in turn, could drive positive momentum for SOL, enabling the altcoin to potentially experience a significant price rally. Meanwhile, JTO, one of the key altcoins in the Solana LST market, stands to benefit immensely if Solana\u2019s liquid staking reaches $18 billion.\u00a0 Related Reading: Blazing Solana: Analyst Foresees Nearly 700% Price Explosion With nearly $1.8 billion in staked SOL and 50% Solana LST market share, JTO is ideally positioned to capitalize on the projected growth of Solana\u2019s Liquid staking ecosystem.\u00a0\u00a0\u00a0\u00a0 Featured image from ByteTree, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":641923,"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":[142,6664,54512,12837,83626],"class_list":["post-641918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-defi","tag-sol","tag-solana"],"acf":[],"yoast_head":"\n
Report Says Solana Liquid Staking Could Touch $18 Billion<\/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