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Binance to Launch Solana Staking Token BNSOL via Sanctum with $CLOUD

Aug 29, 2024, 12:40 PM

Binance has announced the imminent launch of BNSOL, a Solana Liquid Staking Token (LST), through its platform Sanctum, associated with $CLOUD. This move marks Binance's entry into the Solana liquid staking sector, a market it had not previously explored with Ethereum or Binance Smart Chain. The announcement has generated significant interest and speculation about Solana's potential compared to other cryptocurrencies. Following Binance's announcement, other cryptocurrency exchanges, Bitget and Bybit, have also announced their own Solana staking tokens, BGSOL and BBSOL, respectively.