Terra blockchain’s staking and governance token, LUNA, has surpassed both Ethereum 2.0 (ETH) and Solana (SOL) in terms of staking market cap, making it the greatest performance on the market to date.
On Friday, CryptoRank, the crypto data aggregation, and analytics website posted this information on Twitter, along with a thorough graphic showing the success of the top 10 platforms based on their staking market capitalization.
🚀@Terra_money $LUNA Dethrones #Ethereum 2.0 and Takes First Place by Staking Market Cap
👉https://t.co/5WJVPptuia pic.twitter.com/XGdjX7AwpX
— CryptoRank Platform (@CryptoRank_io) March 11, 2022
Terra (LUNA) has now become the biggest Proof-of-Stake (PoS) network by staking market capitalization, according to a tweet from crypto data analysis firm Staking Rewards.
BREAKING: $LUNA has overtaken $SOL and is now THE LARGEST Proof of Stake network by Staking market cap🔥$LUNA overtook Ethereum $ETH only 10 days ago and hasn't stopped since🚀
Data: @StakingRewards pic.twitter.com/R7FWlqiowV
— Staking Rewards | Staking Summit 🇹🇷 (@StakingRewards) March 10, 2022
Terra (LUNA) had 42.79% of valid tokens staked, and the total staked market cap at the time of writing was $32.08 billion. Solana (SOL) followed right after with 74.34% staked tokens and an overall staked value of $32.04 billion. Ethereum 2.0 is standing after Solana (SOL) with 7.92% staked tokens, and with a staked value of $25.15 billion.
The news arrives as Ethereum (ETH) reached a new record, with the quantity of Ethereum (ETH) staked in the 2.0 protocol surpassing 10 million. According to statistics from the Artificial Intelligence research company IntoTheBlock, more than 65,910 distinct addresses helped this milestone along.
#Ethereum just achieved a major milestone
The amount of $ETH staked in the 2.0 contract has surpassed the 10 million mark
More than 65,910 unique addresses have contributed to this achievement, which translates into 8.4% of the circulating supply stakedhttps://t.co/UMGpNAVZ4F pic.twitter.com/RnfzgjDNTu
— IntoTheBlock (@intotheblock) March 10, 2022
Terra (LUNA), notably, overtook the second spot from Ethereum (ETH) in the rankings 10 days ago, establishing itself as a formidable rival. Furthermore, the rising trend of Terra (LUNA) has continued since then.
At the time of publication, the price of Terra (LUNA) was $99.65. From the week prior price of $89.5, there has been a 10% increase. The cryptocurrency appears to be on a rising trend overall since its price was $56.9 only a month ago.