Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
While Cardano and Polkadot are extending their staking dominance, Tezos has plummeted from the top 10 by staked capitalization.
The stakes have been upped for Cardano and Polkadot, with the two networks continuing to dominate the staked capitalization rankings.
According to data fromĀ StakingRewards, Cardano is currently the top blockchain in terms of staked value, with roughly $26.4 billion worth of Cardano (ADA) allocated to securing the network. With Cardanoās entire capitalization tagging $36.6 billion, 73% of circulating ADA are being staked.
StakingRewards estimates Cardano stakers are earning an annual reward of 7.22%.
The second-largest crypto asset by staked value isĀ Polkadot with $22.7 billion worth of DOT locked ā representing 64% of its circulating supply. Average annual staking rewards for DOT are estimated at more than 13%.
Cardano and Polkadot currently represent 7.9% of the $620.6 billion in crypto assets currently designated for staking across the crypto asset sector combined.
While Polkadot and Cardano have long dominated the staking sector by locked value, other leading assets have experienced notable disruptions to their rankings recently.
Solana has now surpassed Eth2 to take the third spot for staked capitalization, with $9.4 billion in capital staked. SOL staking and validation require the asset to be time-locked and taken out of circulation, which may explain the discrepancy, explaining why its staked capitalization exceeds its roughly $8-billion market capitalization. SOL stakers are generating 11% annually.
Top 10 staking assets by staked capitalization: StakingRewards
The once king of stakingĀ TezosĀ has dropped way down to the 11th spot, with a staked capitalization of $3.5 billion yielding 5.5% per annum. In mid-December 2020, Tezos was ranked fourth, according to a Cointelegraph report at the time.
In terms of overall capitalization, Tezos (XTZ) has slumped from the top 10 to rank 35th according to CoinGecko.
Ethereum 2.0 currently ranks as the fourth-largest staked asset with $8.2 billion. According to theĀ Eth2 launchpad, there are 3.9 million Ether (ETH) locked into the Beacon Chain deposit contract. However, just 3.4% of circulating Ether has been allocated to staking, suggesting there is still significant room for Eth2ās staking cap to grow.
While ETH stakers are currently earning more than 7% annually, Ethereumās forthcoming chain merge is expected to significantly boost rewards as stakers begin collecting fees from the Ethereum Virtual Machine.
Eth2 researcher Justin Drake predicts staking rewards will at least double with the chain merge, estimating rewards could jump to 25% per year.
staking rewards likely to at least 2x with EVM gas feesI expect ~25% staking APR immediately after the mergemore rewards ā more staking ā more economic securityhttps://t.co/6YTnaGGNyA
ā Justin Ćrake (@drakefjustin) April 19, 2021
The remaining networks inhabiting the top 10 rankings for staked capitalization are Avalanche, Algorand, USD Coin, Terra, Binance Smart Chain and Tron.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.