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Recent data from PHOENIX, a leading crypto media source, reveals the top blockchain projects based on the total value of staked tokens in USD. This metric is a critical indicator of investor confidence and engagement within these networks.
TOP PROJECTS BY TOTAL VALUE OF STAKED TOKENS$ETH $SOL $ADA $SUI $TRX $AVAX $APT $TIA $TON $DOT $NEAR $SEI $MATIC $ATOM $HBAR pic.twitter.com/fx999dD5Cq
— PHOENIX – Crypto News & Analytics (@pnxgrp) August 10, 2024
Ethereum Dominates with $88.4B in Staked Tokens, Leading the DeFi Market
Ethereum (ETH) is leading the list which has a staggering $88.4 billion worth of staked tokens. This number shows that Ethereum occupies a leading position in the DeFi market and is actively used both by developers and investors.
Solana (SOL) comes next, with $58.7 billion held in staked coins. Solana has garnered considerable adoption due to its application in fast transactions and comparatively lower costs than its leading counterparts; therefore, dApps and stakers favor it. This large amount of staking value proves the expansion of the network and the confidence the community has in this platform.
Now in the third position is Cardano (ADA) which has $7.06 billion staked. Cardano has achieved high staking value based on the research-oriented project and its high-impact and large-scale community backing. These upgrades persistently get integrated, and the constant evolution of the platform prompts more staking activity.
Sui and TRON Among Top Stakers with $7B and $5.7B in Locked Value
Other notable ones include Sui (SUI) and TRON (TRX) occupying the seventh and the eighth place with $7 billion and $5.7 billion worth of staked tokens. Both have been experiencing growing traffic and TRON specifically emerged as the primary place for storing stablecoins and sharing decentralized content.
In addition to above, there are some others which include Avalanche (AVAX) with regard to $5.3 billion, Aptos (APT) with $4.9 billion, Polkadot (DOT) with $4.1 billion. They are some of the prominent platforms with constantly increasing staked token values in the crypto space.
Lastly, there are such projects as Near Protocol (NEAR), Polygon (MATIC), Cosmos (ATOM) that have more than a billion dollars staked. These figures point out that there is a competitive and vast blockchain market with different platforms enjoying a decent inflow of investors’ attention made through staking, as indicated by PHOENIX. These are values that will be used to measure the health and change of these ecosystems over time as the market develops.