Binance Staked SOL (BNSOL) represents your staked SOL plus the staking rewards received, in a tradable and transferable form. Ordinary staking would lock up your staked assets, which means you cannot use them for other purposes – it increases a user's opportunity cost.
In contrast, BNSOL provides flexibility to sell, transfer, or use the staked SOL position. You can even move BNSOL to a personal wallet and use it outside the Binance platform whilst still earning rewards. BNSOL accumulates staking rewards through the BNSOL:SOL conversion rate on Binance SOL Staking, even when it is used in other Binance products or external DeFi applications for additional yield opportunities.
Binance Staked SOL Price Analysis
As of November 24 2024 Binance Staked SOL has a marketcap of $893M.
This is {{percentagefromath}} from its all time high of $267.89.
In terms of its tokenomics, there's a total supply of 3.4M with 100% currently outstanding.
Keep in mind Binance Staked SOL has a fully diluted value of $893M which many investors might interpret as overvalued.
Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.
Summarized in part by ChatGPT 4 and Claude
