Cardano is now the 4th in staking value among the prominent layer-1 blockchains, according to statistics obtained by Cardano Daily from Staking Rewards, a renowned data source for staking and crypto growth pools.
“Among prominent layer 1 blockchains, $ADA @CardanoStiftung ranks fourth in terms of Staking Value. Almost all of the $ADA coins have been locked. We see a high belief for #Cardano because numbers don’t lie,” Cardano Daily tweeted.
The stake value of Cardano has increased by 4.42 percent in the last 24 hours, owing mostly to a 3.2 percent gain in the price of ADA in the previous day.
Cardano is gaining in on Terra and Ethereum, which are currently in third and fourth place, respectively, as a result of the development.
Ethereum is at $31.3 billion in staked value, whereas Terra is worth $29.7 billion.
Cardano has a staking value of approximately $29 billion at press time, or 71.73 percent of qualifying ADA that may be staked, according to the statistics.
The development demonstrates a rise in user interest in Cardano, a program that has recently achieved key milestones.
Furthermore, the staking data company platform estimates that users will earn 5.04 percent annually by staking their ADA tokens, which is higher than Ethereum’s 4.8 percent.
ADA’s supremacy in staking value has been aided by a number of developments.
Apart from a price increase, crypto exchange Coinbase offered ADA staking on its network at the end of last week, with a yearly return of 3.75 percent delivered every five to seven days.
Grayscale Investments also introduced ADA to a large portion of its institutional investors by introducing a smart contract system fund for the token.
With several retail and corporate clients eager to gain from ADA staking, the volume of Cardano staked increased by over 70% in one day.
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