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Solana (SOL) stakers have a reason to celebrate, as major crypto exchange Crypto.com has 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 Crypto.com app's on-chain staking feature provides regular rewards for over 10 popular cryptocurrencies, including ETH, SOL and DOT, as well as an unlimited staking quota and the ability to unstake 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 BTC for a limited time. Eligible participants also stand to benefit from both parts of the campaign and take home a total of $40 in BTC.
The campaign period, which began in late December, runs until April 10, 2024, at 12:00 a.m. UTC. The staking period runs for three months starting from Jan. 10, 2024, at 10:00 a.m. UTC.
SOL users can participate in a Staking Challenge with $10,000 in the Reward Pool: the top 500 users ranked by the average amount of their SOL stake over the 90 days until April 10 2024 will each win $20 in BTC.
Solana price action
Solana, the fifth largest cryptocurrency by market capitalization, saw a meteoric price jump in 2023, rallying thousands of percent.
Positive factors, such as hype for the blockchain's fast transactions, low fees and a batch of meme coins issued on the blockchain, pushed SOL token prices to about $120, up from $38 at the start of November.
Tomiwabold OlajideValue locked on Solana applications increased in lockstep, climbing to $1.3 billion in tokens from $400 million in November to levels last seen in July 2022.
Although prices have significantly declined, SOL currently trades around the $90 range.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin