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1/ Solana's LST market structure is rapidly differentiating itself from Ethereum's LST market. Solana LSTs won't need to compete solely on liquidity or "moneyness"; instead, they have a wide design space to explore. This benefits both Solana apps and the SOL token itself... 🧵
The recent collaboration with @wormhole, @arbitrum, @jito_sol, & @AuraFinance continues to cement Balancer as the go-to DEX for hosting LSTs. ✅ First $SOL LST on an $ETH network ✅ Over $19.8 billion in LST swap volume ✅ Over $438m in LST TVL #BuildBetter… https://t.co/eKceYY4Pui
☀️DEX volume on @solana is approaching new highs… ⬆️ Nearly $300B total volume since January 2023. ⬆️ $80B avg monthly trading volume. ⬆️ 8M monthly active wallets. Read more from @ergon50: https://t.co/RNMwhXZ4V9 Charts via: @ledger_top https://t.co/bF8TxwiENO
Since January 2024, Solana's Liquid Staking Token (LST) market cap has nearly doubled from $1.6 billion to $3.5 billion. The Solana ecosystem has seen approximately 12.4 million staking transactions executed through 460,000 distinct wallets since August 2021. Additionally, decentralized exchange (DEX) volume on Solana is nearing new highs, with nearly $300 billion total volume since January 2023, an average monthly trading volume of $80 billion, and 8 million monthly active wallets. A recent collaboration with Wormhole, Arbitrum, Jito, and Aura Finance has positioned Balancer as a leading DEX for hosting LSTs, with over $19.8 billion in LST swap volume and $438 million in LST total value locked (TVL). Key metrics indicate that Solana's LST market structure is rapidly differentiating itself from Ethereum's LST market.
