Solana Outpaces Ethereum in Staking Ratio with 68% of Supply Locked
In a noteworthy development in the world of blockchain staking, Solana has surpassed Ethereum in terms of staking ratio, with 68% of its total supply staked as of September 2024. In contrast, only 28% of Ethereum’s supply is staked. This discrepancy represents a significant difference in user participation between the two leading blockchain networks.
When users stake their tokens, they lock them up to help secure the blockchain network and, in return, receive rewards. The staking ratio is a crucial metric for evaluating the extent to which a blockchain’s supply is utilized for validation and security.
The data on staking ratios includes both native staking, wherein tokens are locked directly within the network, and liquid staking, which allows users to stake tokens while maintaining liquidity through derivative tokens.
Solana Reports $50 Billion Increase in Locked Staking Pools Compared to Last Year
Despite having a higher staking ratio, Ethereum remains the largest proof-of-stake (PoS) blockchain in terms of total value staked. As of September, Ethereum had over $88 billion in tokens staked, while Solana had $58 billion.
Solana’s current staked value marks a substantial growth from $7.5 billion in September 2023, indicating an influx of fresh capital exceeding $50 billion in just one year. This significant increase highlights Solana’s increasing network engagement and adoption. However, Ethereum’s larger overall value staked showcases its dominance as the leading PoS blockchain in terms of asset value.
It is worth noting that the Polkadot (DOT) network has witnessed a significant increase in staked tokens over the past year. In terms of staked ratio, Polkadot is positioned just below Solana with 58.88% of its supply locked. While Solana and Ethereum boast several billion dollars in locked value, Polkadot lags far behind with just $3.9 billion.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice or any form of advice. Coin Edition is not liable for any losses incurred as a result of utilizing the mentioned content, products, or services. Readers are advised to exercise caution and seek professional advice before making any financial decisions.