The live price of Marinade Staked SOL (MSOL) today is 206.827 USD, and with the current circulating supply of Marinade Staked SOL at 4,394,145 MSOL, its market capitalization stands at 908,826,969 USD. In the last 24 hours MSOL price has moved -2.2453 USD or -0.01% while 169,299 USD worth of MSOL has been traded on various exchanges. The current valuation of MSOL puts it at #82 in cryptocurrency rankings based on market capitalization.
Learn more about the Marinade Staked SOL blockchain network and how it works or follow the price of its native cryptocurrency MSOL and the broader market with our unique COIN360 cryptocurrency heatmap.
Marinade Staked SOL (mSOL) is an innovative token that represents staked SOL on the Solana blockchain. When you stake your SOL using Marinade, you receive mSOL tokens in return. This process is known as liquid staking, where your SOL tokens are securely staked to support the network, and at the same time, you are given the flexibility to use your staked assets through mSOL.
Unlike traditional staking, where your SOL tokens would be locked up and inaccessible, mSOL remains liquid. This means you can continue to earn staking rewards while using your mSOL in decentralized finance (DeFi) applications.
Marinade Staked SOL is especially popular among those who want to maximize the utility of their SOL holdings.
Staking your SOL on Marinade is a straightforward process, but it offers a lot more flexibility than traditional staking. Here’s a breakdown of how it works:
Deposit SOL: To get started, you simply deposit your SOL into the Marinade protocol. This is done through Marinade’s easy-to-use decentralized application (DApp).
Receive mSOL: Once your SOL is deposited, Marinade provides you with mSOL tokens in return. These tokens represent your staked SOL plus any rewards that will accumulate over time.
Earn Rewards: As your SOL is staked, it earns rewards just like in traditional staking. However, instead of having these rewards locked up, they are automatically reflected in the value of your mSOL tokens. The longer you hold mSOL, the more valuable it becomes compared to SOL.
Use mSOL Across DeFi: Since mSOL is a liquid token, you can use it across various DeFi platforms. You can trade it on decentralized exchanges, lend it out, or even use it as collateral in lending protocols.
Unstake When Ready: When you’re ready to unstake, you have two options. You can swap your mSOL back to SOL instantly using the “Unstake now” option, which comes with a small liquidity fee. Alternatively, you can choose the “Delayed unstake” option, which allows you to unstake without any fees after a waiting period.
One of the key benefits of mSOL token is its versatility within the Solana ecosystem. Here are some of the most popular uses for mSOL:
Trading: mSOL can be traded on various decentralized exchanges (DEXs). This means you can buy and sell mSOL without needing to unstake your SOL first, giving you more flexibility in managing your assets.
Lending: You can use mSOL as collateral in lending protocols. By lending out your mSOL, you can borrow other cryptocurrencies, giving you access to liquidity without having to sell your assets.
Yield Farming: mSOL can be used in yield farming strategies across different DeFi platforms. This allows you to earn additional returns on top of your staking rewards.
NFTs: Some NFT platforms on Solana accept mSOL as payment. You can use your mSOL to purchase NFTs or participate in other NFT-related activities within the ecosystem.
Liquidity Pools: mSOL can be added to liquidity pools, where you can earn fees and rewards for providing liquidity to various trading pairs.
While SOL and mSOL are closely related, they serve different purposes within the Solana ecosystem:
SOL is the native token of the Solana blockchain. It’s used for transactions, paying network fees, and participating in governance. When you stake SOL, it helps secure the network and earns you staking rewards.
mSOL is a liquid staking token that you receive when you stake your SOL through Marinade. Unlike SOL, mSOL remains liquid, meaning you can use it in DeFi applications while still earning staking rewards. The value of mSOL increases over time as staking rewards accumulate.
Investing in mSOL coin can be a smart move, but it’s important to consider both the pros and cons before making a decision. Below is a detailed table that outlines reasons for and against investing in mSOL:
Reasons for Investing in MSOL | Reasons Against Investing in MSOL |
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Marinade Staked SOL Price | 206.827 USD |
Market Rank | #82 |
Market Cap | 908,826,969 USD |
24h Volume | 144,712 USD |
Circulating Supply | 4,394,145 MSOL |
Max Supply | 488,630,611 MSOL |
Yesterday's Market Cap | 899,117,440 USD |
Yesterday's Open / Close | 206.862 USD / 204.617 USD |
Yesterday's High / Low | 213.12 USD / 202.719 USD |
Yesterday's Change | -0.01% ( 2.2453 USD ) |
Yesterday's Volume | 169,299.27 USD |