Solv Raises $11M to Grow the $1.3B Bitcoin Staking Protocol
Summary
Solv Protocol, a Bitcoin staking platform, raised $11 million at a $200 million valuation from investors including Nomura's Laser Digital, Blockchain Capital, and OKX Ventures. SolvBTC, its product, has over 20,000 BTC staked ($1.3 billion) across 10 major blockchain networks. Bitcoin staking platforms aim to utilize the capital held in BTC by offering staking services for rewards. Babylon, another platform, attracted over $1.5 billion in staked BTC rapidly, indicating high demand. Despite this, Bitcoin's staking rate is lower than Ethereum's, which could unlock significant value if increased.
