Polkadot has been named as the most popular network for staking with close to $3 billion worth of DOT tokens already at stake.
Following the top achiever is Cardano with $1.79 million of ADA already staked.
Polkadot tops the staking charts
Polkadot has carved a niche for itself when it comes to staking. As per the reports of The Block Research, close to $3 billion worth of DOT which is Polkadot’s native token are at stake. What this means for Polkadot is that the DOT token holders have deposited $3 billion worth of funds with Polkadot validators who are earning a passive income out of it. While Polkadot stands untouched on the numero uno position, Cardno follows as the second most popular network with $1.79 million of ADA staked.
Source: The Block Research
Around $12 billion in staking among the top 10 networks
Close on the heels of the top 2 are Tezos(XTZ) and EOS ranked 3rd and 4th in terms of staking value. Both these networks have roughly $1.4 billion within their networks. Looking at it from an overall perspective, around $12 billion in total has been staked across the top 10 networks. Out of the ten, 8 are Layer-1 blockchain networks like Polkadot excluding Band protocol and Synthetix. The top 10 staking networks by the value that have participated in staking include Polkadot, Cardano, Tezos, EOS, Algorand, Cosmos, Avalanche, Tron, Band Protocol, and Synthetix.
As of today, the price of Polkadot stands at $4.41 with a 24-hour trading volume of $117,053,340. In the last 24 hours, the price of DOT is up by 0.1% with a circulating supply of 930 million coins. DOT currently is being actively traded on Binance and is the largest network in terms of staking value. It is also the only token registering positive return in the US dollar, Bitcoin, and Ether in the last 3 months.
After observing new highs in August, the performance of DOT has reached a stable level and has held strong in the last 3 months. In September it witnessed its peak of the last three months at $6.78 but even though currently hovering around $4.41 figure it is showing forms of stability. The Block Research staking report can be accessed here.
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