According to Staking Rewards Data, Cardano (ADA) has dominated the top spot being the highest value staked of any projects in the digital currency market.
ADA has a total of $29.73 Billion staked value with a reward of 6.63%. While Ethereum come in at a much lower number at $12.42 Billion
Due to Cardano’s price being very consistent during the market downturn, it has enabled ADA to stay on top of the rest. However, staked value is only somewhat one-dimension without consideration of price.
The Strongest Bull Since Bloody Sell-Off
Back when the crypto market was at its peak, ADA was still the top of the staking chain with a staked value of $28.95 Billion. Polkadot was not far behind coming in at $25.43 Billion.
However, Polkadot and Ethereum has now switched places where the value staked on Polkadot has drop significantly by 60%.
Since 19th April, Polkadot was priced at $35 but with market sell-off due to recent FUD, it has corrected 60%, now at around $14. The market downturn could be the factor that affects the stake value and shift of ranking since the value staked is calculated by token price multiplied by the number of staked tokens.
However, ADA was holding well ever since the bloody market sell-off. ADA closed their price at $1.23 on 19th April, and now Cardano is still hovering above $1.25.
Original article: https://dailytokenomics.com/cardano-highest-value-staked/
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