Solana (SOL) and Terra (LUNA) are the main cryptocurrencies used in blockchain staking protocols. In third place is Ethereum 2.0.
In less than 3 years, solan (SOL) y Terra (MOON FABRIC) have become the largest staking assets in the crypto industry. According to data from Staking Rewards, a data provider for cryptocurrencies, staking and crypto growth which tracks over 260 digital assets, shows that the current staked value on the networks block chains Solana and Terra's share price exceeds $31.340 billion and $24.470 billion, respectively. The participation rate with SOL and LUNA is 74,5% and 40,8%.
Crypto blogger Colin Wu noted on his Twitter account that Terra has become the second-largest holding in the crypto industry, surpassing Ethereum 2.0 recently.
Now, the consensus layer of the Ethereum blockchain ranks third among the most in-demand staking protocols. Currently, Ethereum 2.0 holds $23.440 billion in staked value – just over $1.000 billion shy of the total staked value on Terra. The staking rate within this blockchain is just 7,9%. However, it should not be forgotten that Ethereum 2.0 is still in development. The Beacon Chain, launched in December 2020, is the first of three development phases to build this scalable blockchain based on Ethereum. proof of stake (PoS).
Data from DeFi Llama shows that the staked value on Ethereum is over $110.000 billion currently. While there is some discrepancy between the data from Staking Rewards and DeFi Llama, the total staked value shown by the former platform only reflects the ETH staked on the Beacon Chain, not taking into account cryptocurrencies deposited in decentralized finance protocols (DeFi).
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Solana and Terra: Yields of up to 6%
Staking is a mechanism that allows cryptocurrency holders to passively earn governance rights and profits from their assets. It consists of holding cryptocurrencies, locked within PoS-based staking networks such as Solana, Terra, Ethereum 2.0, Cardano, Polkadot, Avalanche, Algorand, Stellar, among others.
Cryptocurrency and token holders can stake their assets within these networks to participate in the network consensus, while also contributing to the operation and security of the network and earning rewards for doing so. Currently, the rewards generated by staking with Solana and Terra are 5,8% and 6,1% per year, respectively.
Source: Staking Rewards
According to data from Staking Rewards, there are currently around 496.000 monthly active stakers on the Solana blockchain. In the case of Terra, there are around 226.900 stakers, while Ethereum 2.0 has over 54.000 monthly active stakers.
ATOM, DOT and NEAR, the most profitable
Of the major digital staking assets, the most profitable so far are Cosmos (ATOM), polkadot (DOT) y Near (NEAR), with an annual return of approximately 13%. Cryptocurrencies follow Avalanches (AVAX), Binance Coin (BNB) and stablecoin USD Coin (USDC), with returns of over 7% per year. The decentralized stablecoin So (DAI) y Cardano (ADA) They offer annual returns between 5,2% and 6,2% for staking.
Interest in Terra (LUNA) is increasing
Since last week, the total value held on the Terra blockchain has increased by 10,3%. At the time of writing, Terra's TVL is 21.660 million, with the Anchor protocol dominating 52% of this value.
The current price of LUNA and SOL is $77,9 and $82,3 respectively, making them the seventh and eighth largest cryptocurrencies in the market by market capitalization.
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