In quite an interesting turn of events, Solana or SOL has topped the list of total staked value with $36 billion as Cardano's ADA follows in second with $24.4 billion. Ethereum is now sitting in third place with just $22.1 Billion in total staked value.
Solana Tops in Total Staked Value
Staking is a form of passive earning in crypto that allows owners to "stake" or put their holdings to good use in order to earn returns. These returns are usually given as annual rewards or otherwise known as APY. PancakeSwap is known to offer the highest, which is at 50.7%.
Quite surprisingly, as seen on the list on CryptoDep, all of the cryptocurrencies on the list's major exchange by volume was actually on Binance, but as of the time of the listing, the Binance Coin or BNB only had $7.01 Billion total staked value.
What is more surprising is the sequence in which these cryptocurrencies ranked in terms of total staked value. SOL came out on top while CAKE landed in the bottom. Other notable cryptocurrencies within the list include LUNA, AVAX, DOT, ATOM, ICP, NEAR, MATIC, FTM, XTZ, and ALGO which can all be found on CoinGecko.
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Top Projects by Total Staked Value:
Solana
Cryptocurrency ticker: SOL
Total USD value of all tokens participating in staking: $36.0 billion staked value
Reward APY: 5.75 percent
Major exchange in terms of volume: Binance
Cardano
Cryptocurrency ticker: ADA
total USD value of all tokens participating in staking: $24.4 billion staked value
Reward APY: 5.05%
Major exchange in terms of volume: Binance
Ethereum
Cryptocurrency ticker: ETH
Total USD value of all tokens participating in staking: $22.1 billion staked value
Reward APY: 4.90 percent
Major exchange in terms of volume: Binance
Terra
Cryptocurrency ticker: Luna
Total USD value of all tokens participating in staking: $20.5 billion staked value
Reward APY: 7.36 percent
Major exchange in terms of volume: Binance
Avalanche
Cryptocurrency ticker: AVAX
Total USD value of all tokens participating in staking: $15.1 billion staked value
Reward APY: 9.27 percent
Major exchange in terms of volume: Binance
Polkadot
Cryptocurrency ticker: DOT
Total USD value of all tokens participating in staking: $11.2 billion staked value
Reward APY: 13.9 percent
Major exchange in terms of volume: Binance
Binance Coin
Cryptocurrency ticker: BNB
Total USD value of all tokens participating in staking: $7.01 billion staked value
Reward APY: 9.28 percent
Major exchange in terms of volume: Binance
Cosmos
Cryptocurrency ticker: ATOM
Total USD value of all tokens participating in staking: $6.55 billion staked value
Reward APY: 13.3 percent
Major exchange in terms of volume: Binance
Internet Computer
Cryptocurrency ticker: ICP
Total USD value of all tokens participating in staking: $4.83 billion staked value
Reward APY: 8.09 percent
Major exchange in terms of volume: Binance
Near Protocol
Cryptocurrency ticker: NEAR
Total USD value of all tokens participating in staking: $4.06 billion staked value
Reward APY: 11.7 percent
Major exchange in terms of volume: Binance
Polygon
Cryptocurrency ticker: MATIC
Total USD value of all tokens participating in staking: $3.46 billion staked value
Reward APY: 13.8 percent
Major exchange in terms of volume: Binance
Fantom
Cryptocurrency ticker: FTM
Total USD value of all tokens participating in staking: $3.20 billion staked value
Reward APY: 14.7 percent
Major exchange in terms of volume: Binance
Tezos
Cryptocurrency ticker: XTZ
Total USD value of all tokens participating in staking: $1.98 billion staked value
Reward APY: 5.51 percent
Major exchange in terms of volume: Binance
Algorand
Cryptocurrency ticker: ALGO
Total USD value of all tokens participating in staking: $1.88 billion staked value
Reward APY: 9.17 percent
Major exchange in terms of volume: Binance
PancakeSwap
Cryptocurrency ticker: $1.55 billion
Total USD value of all tokens participating in staking: $1.55 billion staked value
Reward APY: 50.7 percent
Major exchange in terms of volume: Binance
Related Article: Cardano Update: Scammers Minted Fake MELD Tokens and Listed Them on SundaeSwap
This article is owned by Tech Times
Written by Urian B.
