According to a report by Staking Rewards, 400 million Cardano (ADA) tokens have been staked since early December. The total number of staked ADA tokens has now grown to 25.5 billion.
Despite this increase in staked tokens, the staking market cap remains 9% lower than it was at the start of October 2022.
The staking market cap growth rate has outperformed Cardano's market cap growth since the end of December 2022, which signals a positive outlook in ADA holder confidence.
The number of staking wallets has declined by 8%, but the average staked tokens per wallet increased by 20% from 19,800 ADA to 23,900 ADA.The report also provides insights into validator activity in the Cardano network, pointing out that the largest validators on the network have a very small percentage of the staked balance.
The top 10 validators on Cardano account for about 2.86% of the staked ADA.
Additionally, the top 10 providers account for 24.4% of all tokens staked on Cardano across 119 validators.
In conclusion, the report highlights the consistent growth of staked tokens in the Cardano network, which signals a positive outlook in investor confidence. The report provides valuable insights into validator activity, including the distribution of validators and the top providers in the network.