Terra (LUNA) Surpasses Ethereum 2.0 in Staking Value

Terra has become the second-largest proof-of-stake platform, according to data provided by Staking Rewards (behind only Solana).

The total percentage of eligible LUNA tokens that are being staked currently stands at 41.35%.

The total dollar value of all tokens participating in staking has surpassed the $30.1 billion mark.

The Ethereum 2.0 contract comes in third place with $28.4 billion worth of staked tokens.

Cardano and Avalanche are in fourth and fifth places, respectively. Their staked value stands at $22.5 billion and $18.7 billion. Polkadot and BNB Chain have $12 billion and $7.8 billion.

Staking is the process of locking away one's tokens in order to receive rewards. The current annual yield on Terra is around 6.98%.

cardTerra offers higher rewards compared to Solana (5.84%), Ethereum 2.0 (4.81%) and Cardano (5.22%). Yet, its annual yield is substantially lower compared to Avalanche (9.19%) and Polkadot (13.84%).

The price of the LUNA token has surged roughly 90% over the past week, vastly outperforming Bitcoin.