The dollar value of assets provided by users to earn rewards on cryptocurrency staking is approaching $ 7 billion, CryptoDiffer analysts draw attention to, citing data from the Staking Rewards portal. At the same time, the market capitalization of all cryptocurrencies using one or another variation of the Proof-of-Stake consensus mechanism is $ 11.2 billion..
The seven largest projects with staking support are represented by EOS, Tezos, Cosmos, Algorand, Dash, Synthetix and NEM. They all have at least $100 million in assets fixed by their owners to earn awards.
Cosmos (98.6%), Livepeer (95.6%), Synthetix (88.3%) and Tezos (85.8%) have the largest percentage of staking assets relative to equity capitalization. Curiously, in the case of Algorand and Kava, the value of the assets allocated for staking exceeds their current capitalization, calculated on the basis of circulating volume, by five and a half and six times, respectively. Their systems provide for the possibility of staking tokens, which are still subject to restrictions on use..
The report does not include TRON, which, with a billion-dollar capitalization, uses about $ 329 million in TRX for staking.
The staking mechanism allows holders of certain cryptocurrencies to receive passive income by acting as validators in their blockchains. There is a clear increase in interest in this type of activity, not least thanks to the participation of exchanges such as Binance, Coinbase and Kraken, which are expanding the staking opportunities for customers who store cryptocurrencies in their wallets. At the same time, when choosing an asset for staking, users need to consider related factors, for example, the possibility of its depreciation due to high emissions..
As noted earlier, over the past three months, four large PoS-based cryptocurrencies have shown significant growth in relation to Bitcoin..
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