LUNA flips Ethereum becoming second largest network for staked value

In accordance with knowledge from Staking Rewards, Terra (LUNA) has flipped Ethereum (ETH) when it comes to staked worth, with $29.5 billion value of LUNA locked up in comparison with Ether’s $25.9 billion.

The platform’s knowledge reveals that there are at present 226,325 LUNA stakers, making it the second most staked crypto asset with greater than 4 instances the variety of these staking ETH at 54,768. Solana leads the staking charts with $35 billion in staked worth.

When it comes to annual staking rewards, LUNA is estimated to yield 6.62% on common whereas Ethereum fetches 4.81%. Probably the most rewarding out of the highest 10 staked belongings is Polkadot (DOT) with 13.92%.

Staking Rewards highlighted the flippening on March 1, noting that LUNA staking had overtaken Ethereum, nevertheless, some customers identified that knowledge from DeFi Llama seems to contradict the figures dramatically.

DeFi lama suggests totally different knowledge pic.twitter.com/lGbZ1lXefy

— Luna Studio.UST (@Luna_Studio_) March 2, 2022

DeFi Llama’s knowledge reveals that Ethereum towers over its opponents when it comes to a complete worth locked (TVL) of $111.4 billion, in comparison with LUNA’s TVL of $23.35 billion. Nevertheless, these figures incorporate collateral locked throughout DeFi protocols, not simply ETH staked on the Beacon Chain, therefore the discrepancy. The Beaconcha.in explorer at present studies 9.7 million ETH staked value round $26.5 billion at present costs which has similarities to Staking Rewards figures.

One development that each knowledge aggregators have confirmed, nevertheless, is that curiosity in LUNA has surged of late. Over the previous seven days, LUNA’s TVL has elevated 26.905% and sits nicely above third-placed Binance Sensible Chain (BSC) at $12.03 billion value of TVL.

Staking Rewards clarified that staked worth and TVL metrics are “fully totally different,” because the latter may incorporate belongings locked in decentralized finance (DeFi) protocols for options equivalent to lending.

The value of LUNA has gained a whopping 78.4% over the previous 30 days to take a seat at roughly $92.84 on the time of writing, whereas its market cap at present totals $34.5 billion.

Associated: Rune’s upcoming mainnet launch and Terra (LUNA) integration set off a 74% rally

As beforehand reported by Cointelegraph, the asset’s bullish recovery comes off the again of the Terra protocol burning 29 million LUNA tokens value ($2.57 billion) late final month. The transfer coincided with the availability of TerraUSD (UST) — a stablecoin backed by LUNA — elevated greater than 14.5% to 12.92 million tokens.