SD (Stader) rose 11.95% in 24 hours

Gate News Bot news, August 15, according to CoinMarketCap data, as of the time of writing, SD (Stader) is currently priced at $0.86, having pumped 11.95% in the last 24 hours, reaching a high of $0.96 and a low of $0.66. The 24-hour volume is $25.1 million. The current market capitalization is approximately $45.8 million, which is an increase of $4.9 million compared to yesterday.

Stader is a non-custodial, smart contract-driven staking platform that provides discovery and utilization of staking solutions for various Proof of Stake (PoS) networks. It serves as a crucial staking middleware infrastructure for retail cryptocurrency users, exchanges, and custodians. Stader offers liquid staking services, allowing users to maintain the liquidity of their assets while earning staking rewards, providing users with greater flexibility and convenience.

Important news about SD recently:

1️⃣ Stader benefits from the increased activity in the stablecoin market Recently, many institutions have been minting stablecoins on the Solana network in large quantities, such as Alt5 Sigma minting 30 million USD1. This reflects the increasing confidence in the Solana ecosystem, which may indirectly drive up the demand for Stader as a staking service provider.

2️⃣ Staking demand rise drives SD price pump As Circle processed 550 million USDC transactions on the Solana network, it shows that funds are flowing into the cryptocurrency market on a large scale. This increase in liquidity may have driven the demand for staking services like Stader, which in turn supported the rise in the price of SD tokens.

3️⃣ The overall recovery of the DeFi market drives the rise of Stader JustLend DAO and other DeFi platforms have launched a high-yield stablecoin market, with the highest deposit APY reaching 72.9%. The emergence of such high-yield products reflects the increasing activity in the DeFi market, and Stader, as a staking infrastructure provider, may also benefit from this.

The price trend of SD tokens is closely related to the liquidity of the overall cryptocurrency market and the activity level of DeFi. With the increase in stablecoin volume and the launch of new high-yield DeFi products, the demand for Stader's services may further rise. However, investors still need to closely monitor the overall market risks and changes in the regulatory environment.

This message is not intended as investment advice, and investors should be aware of market volatility risks.