Tom Wan, a strategist at 21.co, said in an article on X that Solana's on-chain liquidity pledge is booming:
-The liquidity pledge ratio increased by 1.76% quarter-on-quarter;
-The number of LSTs reached 53, nearly doubling from the previous quarter;
-The market landscape is more diversified: the market share of the top three LSTs (jitoSOL, mSOL, bSOL) dropped from 93% to 68.7%, and the market share of the top five LSTs reached 84%.
He added that Sanctum has become a key catalyst, and the launch of INF, Sanctum Router and Sanctum Reserve has lowered the entry threshold for users, laying the foundation for the outbreak of on-chain liquidity pledges in Solana.