Sygnum Bank now accepts staked Solana (SOL) as collateral for Lombard loans, allowing clients to access fiat liquidity without giving up staking rewards.
Staked SOL joins Sygnum's existing collateral portfolio for Lombard loans, which includes over 20 tokens like Bitcoin and Ethereum, as institutional demand for crypto-backed financing rises.
Despite Solana's success in transaction volumes and fee generation, it still faces challenges in competing with Ethereum in the traditional finance realm.
Solana's recent market performance shows a drop in trading volume but a price increase over the week, with potential price targets at $261 and $386 according to crypto educator Cryptbusy's analysis.