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Terra (LUNA) has seen hikes in recent times due to various projects deployment and other reasons, now became a second-most staked asset
Staking of assets and their Total locked value are among those factors taken into consideration while evaluating a project, its token, or coin. So does the reason whenever a digital asset makes a certain amount in its staked value, it becomes a hot topic to talk about. Something like that happened in crypto space when Terra (LUNA) got a certain amount of staked assets on its network and as a result of which it surpassed Ethereum in terms of most staked asset parameters.
The price of Terra network’s native token LUNA had a significant surge which boasted the belief towards the network resulting in its rise to become the second most staked cryptocurrency in Total Value Locked. Reports show, by doing so Terra (LUNA) bypassed Ethereum coin; where the former has accounted for $29.5 billion worth of staked tokens while the latter lagged behind with having $28 billion worth of staked Ether coin.
Terra’s native crypto LUNA, achieved the milestone of having $29.5 billion staked tokens because of its more than 226K stakers, while stakers of Ether remain only to be more than 54K. With these changes in the number of stakers, the networks have also swapped their positions as of Ethereum slides on the third position while Terra (LUNA) took its second place, although the top position remains unchanged as Solana still hold the position with the most stacked coins which is $38 billion worth of SOL coins.
Staking rewards also work as a key factor when it comes to stake coins on the network. Terra (LUNA) holders are usually able to earn an interest of 6.62% on their staked tokens while Ethereum provides 4.8% interest to its users. The Topmost staked SOL coin’s staking interest rate is approx 8% but the top high-yielding network with its stake interest of almost 13.9% is Polkadot (DOT).
The above-mentioned details about different networks and tokens staking volume were according to Staking Rewards. Their data holds a huge contrast with another known defi aggregator DefiLiama’s data that shows Ethereum as the more total value-locked cryptocurrency that values up to $111.4 billion worth of staked assets. This difference could be generated from their perception and comparison of different measures.
Since last month, the price of LUNA has surged by almost 78% and is currently trading at $86.9.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
