Terra's LUNA has surpassed Ether as the second-largest stable asset.
A price spike in Terra's LUNA token has made it the second-largest staked asset among all major cryptocurrencies in terms of total value staked, according to data. At the time of writing, LUNA had eclipsed ether, which had a staked value of slightly over $28 billion.
- Data from Staking Rewards show around $30 billion in LUNA has been staked directly on several protocols, accounting for the majority of the token's $34 billion market valuation.
- Annual yields for participants are over 6.98 percent. 41% of all eligible tokens have been staked, the data shows.
- Protocol for transferring data between chains Orion.money is the largest staking application that supports LUNA, with over $2 billion in staked LUNA. Its 43,000 stakers generate yields of approximately 7%.
- LUNA prices have risen approximately 70% in the last week, owing to excellent fundamentals and community enthusiasm for Terra.
- Terra, a blockchain platform that leverages the dollar-pegged stablecoin UST to construct a worldwide payments system, has issued LUNA as one of two tokens. LUNA has risen almost 76,130 percent since its lows of $0.12 on March 18, 2020, making it one of the best-performing cryptocurrencies in the previous two years.
- Staking is a process in which token holders deposit – or lock away – a number of tokens in order to become active participants in the network's operation in exchange for incentives. These incentives are known as "yields," and they are typically higher than those paid by traditional financial institutions on deposits.
- With approximately $40 billion worth of SOL staked across several protocols, Solana's SOL tokens remain the highest staked asset. Stakers get an annual yield of 5.86 percent.
- However, in terms of overall value locked in applications developed on its blockchain, ether continues to reign supreme. Ethereum-based apps have a market cap of around $118 billion, compared to $23 billion for Terra-based apps and $7 billion for Solana-based apps, data from DeFiLlama shows.