As of April 20, according to the data acquired by stakingrewards.com, the total stake of the top 10 cryptocurrencies stands at $99.2 billion. As the cryptocurrency sector grows, more investors are turning to staking crypto. Also, many users now recognize passive income as a credible means of earning.
Notably, cryptocurrency staking refers to the process where investors lock up a certain amount of digital assets to qualify for earning interest. They also participate in the token’s governance and verify transactions within a decentralized network.
To begin with, Cardano (ADA) drives the pack at 73.27% of eligible staked tokens with a price of $27.35 billion. Next to that, Polkadot (DOT) ranks second with 64.18% of suitable tokens staked at a value of $23.9 billion. Overall, these two tokens value over half of the top ten staked amount at about 51%.
Following this, is Solana (SOL) with 62.82% of eligible tokens staked, and a price of $9.71 billion. Ethereum 2.0 (ETH) follows with 3.31% staked tokens valued at $8.21 billion. Next comes Avalanche (AVAX), ranking fifth with 78.03% of staked tokens valued at $7.64 billion.
Furthermore, Algorand (ALGO) hosts 52.26% of staked tokens with a value of $6.85 billion. Next follows USD Coin (USDC) at $4.32 billion. After which, Terra’s (LUNA) staked tokens account for 32.73%, with a value of $4.19 billion. Meanwhile, Binance Smart Chain (BNB) has a value of $4.10 billion with 63.67% of the staked tokens. Finally, in the tenth spot, Tezos (XTZ) holds 78.17%, valued at $3.66 billion.
This article was first published on coinquora.com
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