TON Surpasses Cardano in Staking Market Cap, Solidifying Position as Top PoS Network

The Open Network (TON) has outperformed Ethereum scaling solution Cardano and is now ranked third in the list of top blockchain networks by Proof-of-Stake (PoS) market capitalization. Notably, Toncoin (TON), the native token of TON, has outperformed ADA in the past year as well.

As per data from Staking Rewards, Ethereum ranks first with a staking market cap of $115 billion, a staking ratio of 27.67%, and a reward ratio of 3.33%. ETH is followed by Solana, with a staking market cap of $67.28 billion, a staking ratio of 65.71%, and a reward ratio of 6.97%. TON ranks third with a staking market cap of $4.34 billion, a staking ratio of 24.82%, and a reward ratio of 3.03%. Cardano comes in fourth, with a staking market cap of $9.63 billion, a staking ratio of 65.95%, and a reward ratio of 2.8%.

Tron (TRX) and Avalanche (AVAX) are ranked fifth and sixth on the list, respectively, with staking market caps of $5.97 billion and $7.64 billion.

Importantly, TON and Cardano have witnessed a surge in activity recently. TON has seen the debut of viral Telegram-based games, including Hamster Kombat and Notcoin. Meanwhile, Cardano has formed an Interim Constitutional Committee (ICC) and unveiled Node 9.0.0, moving closer to the Chang hard fork.

According to CoinMarketCap data, ADA is the tenth-largest digital asset in the market, with a market cap of $15 billion, while TON is the ninth largest cryptocurrency, with a valuation of $17.5 billion. ADA is trading at $0.418, down 1.7% in the last 24 hours, while TON is trading at $6.97, up around 0.7% in the same period.

Since July 2023, TON has provided 391.10% returns to its holders, while ADA has surged only 33.24% since that time. Although the native token of the Cardano blockchain is underperforming, earlier reports indicate that the network’s growth in Total Value Locked (TVL) is impressive, suggesting increased interest from the blockchain sector.