In the latest crypto showdown, Terra (LUNA) has left Ethereum (ETH) in the dust, boasting a staggering $29.5 billion worth of staked value, outpacing ETH’s $25.9 billion. This development, as reported by Staking Rewards, marks a significant moment in the world of staking.
The Race for Staking Dominance
As of now, Terra has gathered a community of 226,325 LUNA stakers, dwarfing Ethereum’s comparatively low count of 54,768 stakers. Solana remains at the forefront, leading the pack with $35 billion in staked value.
Rewards Galore: Who’s Cashing In?
When it comes to staking rewards, LUNA is hot on the heels of the top performers with an impressive estimated yield of 6.62% for stakers, while ETH lags behind at 4.81%. The crème de la crème of rewards, however, can be found with Polkadot (DOT), which clocks in at a jaw-dropping 13.92%.
Flipping Data: A Tale of Two Sources
Staking Rewards made a splash by highlighting this ‘flippening,’ but hold your horses! Some eagle-eyed users noted that DefiLlama’s data paints a different picture, with Ethereum leading the total value locked (TVL) game at $111.4 billion against LUNA’s $23.35 billion. These discrepancies arise from the difference in what counts as total value—lending collateral versus just ETH staked.
Growth Spurt: The LUNA Phenomenon
Despite the mixed messages from data aggregators, one consensus stands firm: interest in LUNA is skyrocketing! Over just a week, LUNA’s TVL surged by 26.905%, firmly anchoring it above BNB Smart Chain (BSC), which holds $12.03 billion.
The Price is Right: LUNA’s Booming Market
LUNA’s price has seen an unbelievable ascent of 78.4% over the past month, now sitting around $92.84. With a market dominance reflected in a total cap of $34.5 billion, the crypto landscape is undoubtedly shifting.
As reported previously, this bullish momentum can be traced back to a major strategy involving the burning of 29 million LUNA tokens, worth nearly $2.57 billion, which coincided with a 14.5% increase in the supply of TerraUSD (UST)—LUNA’s stablecoin sidekick. A move that made crypto enthusiasts both excited and slightly on edge.
In conclusion, whether you’re a LUNA supporter, an ETH loyalist, or just here for the memes, it’s clear that staking has taken a dramatic turn, and everyone is eagerly watching the next chapter in this dynamic saga.
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