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Terra (LUNA) ecosystem has witnessed significant growth over the past year. It is one of the projects that has spiked since establishment. Recently, it is observed that the dollar value of all cryptocurrency staked in the ecosystem is now more than it’s true rival Ethereum. On the other hand, a recent surge in the price of LUNA has sent the total value of the asset staked to $30,207,957,209 at press time. In contrast, the total staked crypto value on Ethereum 2.0 is $28,176,086,261 as per data from the Staking Rewards.
Is the staking value significant?
Staking digital currency on anmy blockchain network plays a vital role in securing the network. Moreover, investors lock their funds on the network and get splendid rewards. The more the staked tokens, the more the network is secured.
And currently nearly 41% of all eligible LUNA, the native cryptocurrency of Terra ecosystem has been staked. Whereas, only 7.92% of all eligible Ether are staked by the digital coin holders.
LUNA stakers are enjoying more yield
By staking their LUNA, investors are earning approximately 6.8% in annual yield. On the other hand, Ethereum investors are earning a 4.8% yield by staking their funds. Besides, while comparing the price gains we have observed that the price of the native crypto of Terra skyrocketed last week, noting an increment of more than 77%. Whereas, the price of ETH has jumped by only 27% from a low of $2,336 to $2,967 which is way small in comparison to LUNA.
Following the scenario, investors in the crypto ecosystem observed that Terra is one of the projects doing quite well in the cryptosphere. Besides, it is also noteworthy that the native cryptocurrency of the ecosystem is continuing to surge and record impressive performance over the past week. Indeed, investors in the crypto market are bullish on LUNA.
