Liquid staking token launches on Solana with support from Coinbase, Kraken, Galaxy
Liquid Collective noted that demand for liquid staking solutions on Solana is increasing alongside rising institutional interest in crypto.
Liquid Collective has introduced a liquid staking token on Solana (SOL), responding to rising institutional interest in the network as US regulators consider several SOL-based exchange-traded funds (ETFs).
On Wednesday, the interoperable staking network unveiled Liquid Staked SOL (LsSOL) in partnership with Coinbase, Kraken, Galaxy, Anchorage Digital and Fireblocks. These partners will facilitate institutional access to LsSOL as demand for Solana grows among professional investors.
Citing data from SolanaBeach.io, Liquid Collective noted that approximately $21 billion in SOL remains unstaked. Of the staked SOL, 14% is currently staked through liquid staking solutions, with Jito leading the market, according to industry data.
