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Solana (SOL) stakeholders have reason to celebrate, as a major cryptocurrency exchange crypto.com Launched a new promotional campaign.
Here, eligible holders have a chance to win a share of $20,000 in BTC by staking ETH and/or SOL.
The on-chain staking feature in the Crypto.com app offers regular rewards for over 10 popular cryptocurrencies, including ETH, SOL, and DOT, as well as an unlimited stake of staking and the ability to cancel staking at any moment after activation.
As a special bonus, Crypto.com states that users who make the most of the feature can win a share of $20,000 worth of Bitcoin for a limited time. Eligible participants will also benefit from both parts of the campaign and will receive a total of $40 in Bitcoin.
The campaign period, which began in late December, runs until April 10, 2024, at 12:00 a.m. UTC. The staking period lasts for three months starting January 10, 2024 at 10:00 AM UTC.
SOL users can participate in the $10,000 Signature Challenge in the reward pool: The top 500 users ranked by their average SOL stake amount over the 90 days through April 10, 2024 will each win $20 in Bitcoin.
Solana price action
Solana, the fifth-largest cryptocurrency by market capitalization, saw a huge jump in prices in 2023, rising by thousands of percent.
Positive factors, such as hype around the blockchain's fast transactions, low fees and a range of coins issued on the blockchain, have pushed SOL token prices to around $120, up from $38 at the beginning of November.
The value locked on Solana applications has steadily increased, rising to $1.3 billion in tokens from $400 million in November to levels last seen in July 2022.
Although prices have dropped significantly, SOL is currently trading around the $90 range.
About the author
Tomiwabold Olajide
