Popular altcoin project Solana, which ranks eighth by market cap, is currently the largest blockchain in terms of staking value. After Solana (SOL), Terra (LUNA) is in seventh place in terms of market capitalization. The altcoin that follows it is Ethereum, which is in the second position in the market capitalization ranking.
These altcoin projects are the most staked
According to Staking Rewards, Solana (SOL) is currently the largest staked coin among all major cryptocurrencies in terms of total staked value. SOL tokens directly staked on several platforms are worth $39.3 billion. This has put Solana (SOL) at the top of the list among the largest staked cryptocurrencies. Meanwhile, Terra (LUNA) ranks second on the “stake value” list, with Solana (SOL) at the top with a valuation of $30.1 billion. Ethereum, on the other hand, can find itself in the third place on the list with a share value of $ 27.9 billion. Cardano (ADA), which is in the ninth place in terms of market capitalization, is in the fourth place of the list, with a value of $ 22 billion.
According to Staking Rewards, approximately $30 billion in LUNA is directly embedded in several protocols, representing the majority of the token’s $34 billion market cap. The same is true for Solana (LEFT). SOL price jumped from $75.36 on February 24 to hit an intraday high of $106 on March 2 and faced a strong buying wave in the recovering market. Solana (SOL) has been on the rise as the crypto industry is once again faced with a surge with total capitalization in excess of $2 trillion.
Ethereum killer Solana
Touted as the Ethereum killer, Solana (SOL) has performed impressively over the past year and has grown significantly in the market. The Ethereum killer managed to break above the $100 threshold after the crypto crash earlier this year. Ethereum killer Solana (SOL) has also entered the Gemini Exchange. At current prices, Solana has lost almost 70% of its value from its last ATH of $261. On a plus side, SOL’s downtrend has slowed significantly as it has been trading in horizontal consolidation since late January.