Solana Outshines Ethereum and Cardano as Most Staked Crypto

Solana has recorded lucrative price actions in 2021. The ‘smart’ contract crypto saw increased popularity. SOL’s blockchain had a remarkable surge in adoption, attributed to the platform’s massive mainstream interest. Such sentiment catalyze new ATH’s for SOL.

The ETH-Killer

Though market players have called several blockchain projects ETH Killers, Solana seems to have satisfied the dub, presenting high competition with blockchains like Ethereum and Cardano. Solana has witnessed its market share surging considerably every week. That came as decentralized finance (DeFi) on Solana saw a successful debut. Moreover, SOL appeared to satisfy market participants interested in cheaper Ethereum alternatives. Though Solana has a relatively low market share in the decentralized financial space that Ethereum, it is vital as far as staking is concerned.

Solana Dominates Staking

Cardano has enjoyed the top spot as the platform with high-staked cryptos. However, a significant increase in staking has Solana outperforming all networks in staked coins, overtaking blockchains like Ethereum and Cardano.

Market participants appear intrigued by staking as a way to enjoy passive income. That has coins such as ADA and ETH see an increase in popularity as their networks offer attractive investment yields. However, Solana has dominated this space, quickly attracting crypto enthusiasts from all over the crypto industry. That is because Solana guarantees top crypto yields compared to networks like Ethereum and Cardano.

Highest Staked Tokens

By 23 November, Solana was the platform with high value as far as staked tokens are concerned. The altcoins total staked tokens value has surpassed $84 billion, leading renowned blockchain that enjoyed the top rank, ETH and ADA networks.

For now, Solana boasts roughly 77.35% of its overall supply staked, providing a yearly yield of 6.78%. On the other part, Cardano has almost 70.5% of the token’s supply staked, with a 5.72% annual yield. Meanwhile, Ethereum, with its 5.2% annual yield, has 6.86% at stake.

‘ETH Killers’ Witness Increased Activity

Blockchains like Cardano and Solana have recorded increased activity as competition amplifies. Though Ethereum still leads with most activity in NFTs and DeFi marketplaces, networks like Cardano and Solana have registered significant activity surge.

Cardano had a considerable increase in activity in November, overtaking Ethereum as far as usage is concerned. Also, Solana’s activity rose remarkably amid NFT and DeFi popularity.

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