Binance's Solana liquidity staking token BNSOL recently surpassed $1 billion in TVL, accounting for more than 10% of the market value of all Solana liquidity staking tokens.
BNSOL's progress was mainly driven by the expansion of the Solana ecosystem, with its liquidity staking share more than doubling in 2024, with an estimated market value of $8 billion. BNSOL has more than 4.8 million SOL staked, and is also the largest exchange supporting SOL liquidity staking tokens.
Binance Vice President of Product Jeff Li said: "In just three months, BNSOL TVL has exceeded $1 billion, which reflects the huge market demand for BNSOL. BNSOL's integration with various products on the Binance platform and DeFi protocols has been a key factor in promoting the popularity of the token." (Bitcoin.com)