Solana (SOL) Ranks Largest Blockchain in Staking Value

According to the data provided by Staking Rewards, Solana (SOL) is currently the largest asset among all top cryptocurrencies in terms of total value staked.

The data shows that Solana claims the top spot with $39.3 billion worth of SOL staked directly on several platforms, followed by Terra with $30.1 billion. Ethereum (ETH) and Cardano (ADA) are ranked 3rd and 4th with staked values of $27.9 million and $22 billion, respectively.

Staking Rewards tweeted, “Top 10 Proof of Stake Networks ranked by Staked Value.”

Staking is a method of earning passive income by allowing third parties to lend a holder’s crypto to investors or by using the holder’s coin on the blockchain.

According to Staking Rewards, around $30 billion in LUNA has been staked directly on several protocols, accounting for the majority of the token’s $34 billion market valuation, likewise for Solana (SOL).

Solana (SOL) in the Market

The price of Solana (SOL) bounced off the $75.36 level on 24th February to reach intraday highs of $106 on 2nd March as it encountered a strong wave of buying power on the rebounding market.

At the time of filing this report, SOL is trading at 100.65, with a relatively 3% price increase in the last 24 hours. Solana surged as the crypto market printed a sudden recovery with a total capitalization exceeding $2 trillion once again.

Solana showed less impressive but still significant growth on the market. The digital currency was able to return above the $100 threshold and reached the barrier at $105.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.