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NewsBTC 2021-11-30 17:00:35

Solana Tops Cardano, Ethereum To Become The Most Staked Cryptocurrency



Solana has slowly made its way into being the crypto sweetheart of 2021. The smart contracts platform had found popularity in the third quarter of the year as it rallied to new all-time highs following the massive adoption of the blockchain. It didn’t take long before the blockchain was being listed as an “Ethereum killer” placing it in competition with the likes of Ethereum and Cardano. Solana has lived up to expectations since then as it stole more market share with each passing week. Decentralized finance (DeFi) services on the blockchain quickly took off as investors sought out cheaper alternatives to Ethereum. Related Reading | Cardano Active Addresses Shoots To New Highs Amid Downtrend Solana still holds a small share of the DeFi market compared to Ethereum but the blockchain has quickly grown to be a force to be reckoned with when it comes to staking. Solana Takes The Lead For Staking For a long time, competitor Cardano held bragging rights as the network with the most staked cryptocurrency. Now that title has been stolen by Solana as staking ramped up on the network. It now stands ahead of Cardano and Ethereum for total value staked on the blockchain. Staking has become one of the leading ways for investors to make passive income while they held on to their coins. This has propelled the rise of digital assets like ETH and ADA to the forefront of the market given that these networks offered attractive yields to use...

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