As a seasoned crypto investor with over a decade of experience in this dynamic and ever-evolving market, I must say that the recent listing of BNSOL on Binance has caught my attention. Having witnessed the meteoric rise of Solana (SOL) over the past year, I find it intriguing to see its staked counterpart, BNSOL, gain traction on one of the most influential exchanges in the industry.
BNSOL, a token that stands for staked SOL and rewards, recently hit a significant milestone: it got listed on Binance. This listing is primarily about providing better user experiences. This move has sparked a wave of optimism for the future of BNSOL, as one of the leading exchanges now supports it.
BNSOL Secures Binance Listing With Boosted APR Promotion
According to an official Binance announcement dated October 9th, starting from October 10th at 8:00 UTC, Solana staking and the rewards token will be accessible for trading on the platform. The pair to be traded is BNSOL/SOL. Additionally, the announcement provided important information about the token’s promotional period and APR (Annual Percentage Rate).
The promotional phase for the tokens, as decided by the exchange, lasts for 8-10 days beginning October 16 (UTC). During this timeframe, both new and current token owners have the opportunity to earn rewards of up to 10% Annual Percentage Rate (APR). However, keep in mind that the APR may vary between 8-10%, depending on the total value locked per epoch, which lasts approximately 2-3 days. Once the promotional period ends, the APR will return to its regular state. For more specific details, please visit the exchange’s staking page.
This significant announcement from a leading cryptocurrency exchange has sparked widespread interest throughout the industry, drawing considerable focus towards their staked SOL offering. Users can acquire the Binance-staked Solana token by either depositing SOL into the exchange’s Web3 wallet or by visiting the ‘Stake SOL’ section on the ‘Earn’ page of the platform.
More About The Staked SOL Token
In simple terms, the Binance staked SOL functions as a representation of your staked SOL and any rewards earned, all in a form that can be traded and moved. Unlike traditional staking which locks assets, this new token is designed to provide users with more flexibility. They can choose to sell, transfer, or move their staked SOL to their personal wallets and use it beyond the platform if they wish.
Today’s data from CoinMarketCap shows that both BNSOL and SOL were trading at $143, but they each experienced a decrease of around 1% over the past day. Despite this minor drop, well-known crypto influencer BitBoy predicted “Big moves are coming in the SOL ecosystem” on his platform today. This statement adds to the positive outlook for Solana’s global community, as it suggests potential significant developments within the SOL ecosystem.
In a separate development, the cryptocurrency exchange has lately added Scroll (SCR) to its platform, highlighting its commitment to expanding its services by partnering with promising crypto projects.
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2024-10-09 15:44