According to Staking Rewards data, Terra (LUNA) has overtaken Ether (ETH) in terms of staking value; LUNA has $29.5 billion locked up, while Ether has $25.9 billion.
Platform data shows that currently there are 226,325 LUNA stakers, making it the second most staked crypto assetwhich is more than four times the number of staking that is made by ETH, which is 54,768. Solana leads the staking tables with $35 billion.
Regarding annual staking rewards, it is estimated that LUNA yields 6.62% on average, while ETH reaches 4.81%. Of the top 10 staked assets, the most profitable is Polkadot (DOT) at 13.92%.
Staking Rewards highlighted the change on Tuesday, noting that LUNA staking had overtaken ETH.. However, some users pointed out that the DefiLlama data seems to drastically contradict the figures.
DeFi lama suggests different data pic.twitter.com/lGbZ1lXefy
– Luna Studio.UST (@Luna_Studio_) March 2, 2022
DeFi lama data suggests something different.
Data from DefiLlama shows that Ethereum towers over its competitors in terms of a total value locked (TVL) of $111.4 billion, compared to LUNA’s TVL of $23.35 billion. However, these figures incorporate collateral escrowed in decentralized finance protocols (DeFi) and not just ETH on the Beacon chain., hence the discrepancy. The Beaconcha.in explorer is currently reporting 9.7 million ETH staking worth about $26.5 billion at current prices, similar to Staking Rewards figures.
However, one trend that both data aggregators have confirmed is that interest in LUNA has increased of late. In the last seven days, LUNA’s TVL has increased by 26,905% and stands well above third-placed BNB Smart Chain (BSC) at $12.03 billion TVL.
Staking Rewards clarified that value metrics in staking and TVL are “totally different”as the latter can also incorporate assets locked into decentralized financial protocols for functions such as loans.
LUNA price has gained a whopping 78.4% in the last 30 days to sit at about $92.84 at the time of writing, while its market capitalization currently stands at $34.5 billion.
As Cointelegraph previously reported, The asset’s bullish rally is due to the Terra protocol burning 29 million LUNA tokens worth $2.57 billion at the end of last month. The move coincided with the offering of TerraUSD (UST) – a LUNA-backed stablecoin – which surged more than 14.5% to 12.92 million tokens.
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