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Terra (LUNA) Surpasses Ethereum 2.0 in Staking Value

Wed, 03/02/2022 - 14:32
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Alex Dovbnya
Terra is now the second-largest proof-of-stake platform, surpassing Ethereum 2.0, Cardano and other popular blockchains
Terra (LUNA) Surpasses Ethereum 2.0 in Staking Value
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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.

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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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at