A up-to-date report highlights key changes that could come after a significant enhance Solana Liquid Staking. Driven by sturdy investor demand, if Solana’s liquid staking reached $18 billion, it could yield significant benefits Salt (NO) and Jito (JTO), a liquid staking token on the Solana blockchain, potentially driving positive momentum and appreciation in both altcoins.

Solana Liquid Staking to Ignite Adoption Boom

Over the past few years SOL has an impressive streak behind itoutperforming most altcoins, leader in the meme coin market with numerous blockchain-based meme coins. However, the cryptocurrency’s Liquid Staking rate has remained significantly low compared to Ethereum. Only 6.5% of Solana is staked via liquid staking, which is just one-third of Ethereum’s LST.

In the recent reportBybit revealed that while Liquid Staking Tokens (LST) on the Solana blockchain did not experience immediate growth initially, but are now starting to show signs of expansion and dominance in the DeFi market.

Currently, half of the top 10 DeFi protocols Total Locked Value (TVL) on Solana are now Liquid Staking Providers, suggesting rapid growth in the LST market. Furthermore, the total LST market capitalization on Solana has increased to $3.6 billion, reflecting a nearly 16x enhance in its value compared to last year.

Based on LST Ethereum market statistics, Bybit predicts that Solana’s LST market could potentially grow to $18 billion, which is 5 times its current value. However, this massive growth depends on Solana’s LST ratio reaching that of Ethereum.

Given how ambitious the $18 billion enhance is, Bybit considers this to be a more conservative and potentially achievable estimate. The report suggests that if Solana’s liquid staking rate were to enhance by just 10%, it would mean a 53% enhance in the size of the liquid staking market.

For this to happen, Solana’s DeFi Ecosystem is expected to gradually expand as the demand for LST on the blockchain increases. This increased demand could lead to mass adoptionattracting more developers, users, and protocols to the Solana ecosystem.

In addition, Bybit highlighted its role in developing and improving the growth of Solana LST. To lend a hand mass adoption in the Solana LST market and DeFi ecosystem, Bybit announced its plans to launch its own liquid staking token on the Solana blockchain.

Key Players to Benefit from Solana’s Liquid Staking Growth

It is worth noting that the development of Solana Liquid Staking could significantly impact the price dynamics of both SOL, Solana’s native token, and JTO, Jito’s native tokenThe growth in Solana LST signals increased blockchain adoption, which could attract a wave of up-to-date investors and users to SOL.

This in turn can lead to positive momentum for SOLwhich could potentially allow the altcoin to experience significant price growth. Meanwhile, JTO, one of the key altcoins in the LST Solana market, could benefit immensely if Solana liquid staking reaches $18 billion.

With nearly $1.8 billion in SOL staking value and a 50% Solana share of the LST market, JTO is ideally positioned to benefit from the projected growth of the Liquid Solana staking ecosystem.

Featured image from ByteTree, chart from TradingView