Phoenix Group has recently published its latest rankings of cryptocurrency projects based on the total value of staked tokens. Ethereum ($ETH) and Solana ($SOL) have emerged as the leaders in this regard, with $84.7 billion and $66.9 billion worth of staked tokens respectively. Ethereum holds a significant advantage over Solana, but both projects have consistently maintained their positions due to their strong staking mechanisms and support from their communities.
Here are the top projects ranked by the total value of staked tokens:
– Ethereum ($ETH)
– Solana ($SOL)
– Binance Coin ($BNB)
– Sui ($SUI)
– Aptos ($APT)
– Cardano ($ADA)
– TRON ($TRX)
– Avalanche ($AVAX)
– TIA ($TIA)
– Polkadot ($DOT)
– Ton ($TON)
– TAO ($TAO)
– NEAR Protocol ($NEAR)
– Sei Network ($SEI)
– Saga ($SAGA)
It is worth noting that Binance Coin ($BNB) holds the third position with $19.08 billion worth of staked tokens, followed by Sui ($SUI) and Aptos ($APT) with $13.8 billion and $8.2 billion respectively. The entry of Sui and Aptos is particularly surprising as they have quickly gained popularity among investors in the emerging projects category. Other well-known projects like Cardano, TRON, and Avalanche also hold significant staked values.
The report also highlights the varying staking ratios and reward rates of the top projects. For instance, Ethereum has a staking possibility of 28.5% with a staking bonus of 3.3%, while Solana has a staking possibility of 67.1% and a staking bonus of 6.5%. These differences reflect the unique economic models and incentives implemented by each project to attract stakers.
In addition to established projects, the report acknowledges the progress made by emerging tokens such as TIA, Polkadot, Ton, and TAO in the staking market. These projects are gaining attention with competitive reward rates and innovative staking mechanisms.
NEAR Protocol, Sei Network, and Saga also make their mark in the rankings, each carving out a niche in the competitive landscape of staking protocols.