#SOL质押市值超越ETH

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On April 20, 2025, the blockchain industry ushered in a landmark moment - SOL's pledge market value reached $53.96 billion, surpassing ETH's $53.77 billion for the first time and topping the pledge market capitalization list. This milestone event not only reflects the market's confidence in the Sol ecosystem, but also heralds profound changes in the competitive landscape of the crypto industry. The core driver of this transcendence is the launch of the world's first SOL spot ETF in Canada, which supports the staking function and attracts a large number of institutional capital inflows. At the same time, SOL's liquid staking protocol continues to optimize the yield mechanism, driving the staking rate to exceed 60%, far exceeding the industry average. In contrast, although Ethereum's staking volume is still growing, its liquid staking market tends to be saturated, and the growth rate is relatively slow.
Market Impact and Future Trends:
The rise of SOL marks an enhancement in the competitiveness of high-performance public chains in the fields of DeFi, NFT, and RWA. If Ethereum's upgrade in May fails to optimize scalability as expected, some funds may further flow into the SOL ecosystem. Moreover, SOL's staking economy still has growth potential, as its liquid staking ratio is far lower than that of Ethereum, which may release liquidity worth tens of billions of dollars in the future.
Therefore, the peak of SOL staking market value is not only a numerical surpass but also a victory of technology, capital, and community consensus. With the accelerated integration of traditional finance and crypto assets, SOL may become the core engine of a new round of industry growth, while whether Ethereum can catch up will be one of the most noteworthy narratives of 2025.