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LUNA Overtook Ether 2nd Spot As Biggest Network For Staked Value

By Natalie Wu | March 6, 2022

Per insights generated by Staking Rewards, Terra (LUNA) has reportedly overtaken Ether (ETH), staked value-wise, with $29.5 billion equivalent of LUNA locked up, in comparison with the $25.9 billion figure of ETH.

Specifically, insights from the platform reportedly revealed that at the moment, there are 226,325 LUNA stakers – earning it the second spot in the list of most staked crypto assets, four times over the overall figure of the ones staking ETH – standing at 54,768. 

Solana reportedly leads the pack, possessing a total of $35 billion in staked value.

Regarding annual staking rewards, LUNA is reportedly estimated to possess an average yield of  6.62%, while the number for ETH would be 4.81%. The staked asset with the highest reward percentage in the top 10 list is Polkadot (DOT) with 13.92%.

Staking Rewards reportedly emphasized the overtake on March 1st, claiming that LUNA staking had exceeded ETH. Nonetheless, a few users discovered that insights generated by DefiLlama seem to suggest an entirely opposite result. 

DefiLlama’s insight reportedly revealed that Ethereum is leading the pack by a wide margin when it comes to total value locked (TVL), currently standing at $111.4 billion, compared with LUNA’s TVL of $23.35 billion.

Nonetheless, these figures incorporate collateral locked across decentralized finance (DeFi) protocols and not just ETH staked on the Beacon Chain, which can explain the discrepancy. The Beaconcha.in explorer currently reports a 9.7 million ETH stake, with a value equivalent to roughly $26.5 billion, the same as Staking Rewards figures.

One trend that saw a unified confirmation of both data aggregators, nonetheless, is that interest in LUNA has climbed up recently. Throughout the last seven days, LUNA’s TVL has witnessed a rise of 26.905%, looking down at BNB Smart Chain (BSC) – sitting at the 3rd spot – at $12.03 billion equivalent to TVL.

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