Bybit: 'Solana-based liquid staking size can grow up to 5-fold'
CryptoNewsTerminal Staff13 Sep, 2024
Bybit: 'Solana-based liquid staking size can grow up to 5-fold'
Bybit's research team predicts that the size of Solana-based liquid staking could grow to as much as $18 billion, representing a roughly five-fold increase from its current size. The report notes that "Solana has a relatively active staking community, which we believe gives it strong potential for the growth of its liquid staking sector." It also addresses concerns about the potential for centralization due to dominant players in staking, stating that "While this is a valid concern for Ethereum, we do not believe it is as likely to happen on Solana." This is because "Solana does not have a dominant player like Lido (LDO) in the same way that Ethereum does." With these factors in mind, the report concludes that "we expect the Solana-based liquid staking market to be driven by retail rather than institutional investors."
