Cardano and Polkadot rank the top two in staking value and Tezos drops to 11th

The staking share of Cardano and Polkadot has improved, and the two networks continue to dominate the staking value rankings.

According to data from StakingRewards, Cardano is currently the network with the highest pledge value in the blockchain, with approximately $26.4 billion worth of ADA allocated to secure the network. Cardano has a total market capitalization of $36.6 billion and 73% of all circulating ADA is staked.

StakingRewards estimates that Cardano stakers are rewarded 7.22% annually.

Cardano is about to update and increase Plutus script storage units: On January 20th, Cardano parent company IOHK announced a major scale update, which means that the script storage units of Plutus will increase to 12.5 million. The initial changes will take effect on January 25 (five days after the update proposal process started). Improving the memory/CPU parameters of Plutus remains one of 11 ways Cardano plans to expand in 2022. Other paths include block size increases, Pipelining, InputEndorsers, node enhancements, disk storage, sidechains, Layer2Hydra scaling solutions, offloaded computation, and Mithril solutions. (U. Today) [2022/1/21 9:03:14]

The second-largest crypto asset by staked value is Polkadot, with $22.7 billion worth of DOT locked up, or 64% of its circulating supply. The average annual staking reward for DOT is estimated to be over 13%.

Cardax DEX completes $1.5 million seed round: According to official news, Cardax DEX, a decentralized exchange planned to run on Cardano, announced that it has completed a $1.5 million seed round of financing through its first community token sale. The new funding will support the startup’s goal of creating a platform, which is scheduled to launch in September 2021. [2021/7/31 1:25:43]

Cardano and Polkadot currently account for 7.9% of the combined $620.6 billion in crypto assets currently pledged in the entire crypto asset space.

News | Former Brazilian soccer player Roberto Carlos serves as ambassador for gaming company cryptocurrency LUCK promotion: Former Brazilian soccer player Roberto Carlos becomes an ambassador for online gaming company LUCKY.io cryptocurrency LUCK. (br.cointelegraph)[2019/9/16]

While Polkadot and Cardano have long dominated the staking space by locking value, other major assets have also experienced notable upheavals in their rankings recently.

Solana has now surpassed Eth2, taking the third place with $9.4 billion in pledged funds. SOL staking and verification requires assets to be locked up and taken out of circulation, which may explain this discrepancy, explaining why its staked capital exceeds its roughly $8 billion market cap. SOL stakers earn 11% annually.

Top 10 Staking Assets Ranked by Staking Value: StakingRewards

Tezos, the former "king of staking", has fallen to 11th place, with a pledged fund of $3.5 billion and an annual rate of return of 5.5%. In mid-December 2020, according to a Cointelegraph report at the time, Tezos ranked fourth.

In terms of total market capitalization, according to Coinecko, XTZ’s total market capitalization has slipped from the top ten to 36th place.

Currently, Eth2 ranks fourth with $8.2 billion in staked assets. According to the data of the ETH2.0 release platform, there are 3.9 million ETH locked in the beacon chain deposit contract. However, only 3.4% of the circulating ETH is allocated to staking, which shows that there is still a lot of room for the staking ceiling of Eth2 to grow.

While ETH stakers are currently earning over 7% annualized yields, Ethereum’s upcoming chain merge is expected to boost rewards significantly as stakers begin collecting fees from the Ethereum Virtual Machine (EVM).

Eth2 researcher Justin Drake predicts that staking rewards will at least double as chains merge, estimating that rewards could jump to 25% per year.

Other networks in the top ten are Avalanche, Algorand, USDC, Terra, Binance Smart Chain, and Tron.

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