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.
Read Also: Analyst Makes Bullish Solana (SOL) Predictions for Each Year until 2030: Details
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).
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.
Follow us on Twitter, Facebook, Telegram, and Google News
BlockDAG's impressive $23.6 million presale heralds a bright future, with projections soaring to $20 by…
In a volatile market landscape where Ethereum (ETH) and Shiba Inu (SHIB) are experiencing a…
As Avalanche (AVAX) celebrates surpassing one billion transactions, showing its strength in the DeFi sector,…
The Shibarium Project, through its social media account "Shibarmy Scam Alerts" (@susbarium) on X, has…
In the dynamic world of cryptocurrency, BlockDAG is distinguishing itself with a remarkable $23.9 million…
In the dynamic landscape of cryptocurrency, several notable movements are shaping the market. Binance Coin…