A recent price increase in Terra’s LUNA token has pushed it to the second-largest pledged asset among all cryptos in terms of overall value staked, according to statistics. LUNA has eclipsed ether, which had a staked value of slightly over $28 billion. Approximately $30 billion in LUNA is currently staked directly on several protocols, accounting for the majority of the token’s $34 billion market valuation. Annual returns for participants exceed 6.98 percent. According to the statistics, 41 percent of all relevant tokens are staked.
Terra, a blockchain platform that leverages dollar-pegged stablecoin UST to construct a global payments system, has released LUNA as one of two tokens. LUNA has been one of the top performing cryptocurrencies over the last two years, rising approximately 76,130 percent since its lows of $0.12 on March 18, 2020.
In cryptocurrency, staking is a procedure in which token holders deposit in order to become active participants in the network’s operation in exchange for rewards. Solana’s SOL tokens continue to be the highest staked asset, with over $40 billion worth of SOL pledged across many protocols. Stakers get a yearly yield of around 5.86 percent.
According to DeFiLlama statistics, over $118 billion is secured on Ethereum-based applications, comparable to $23 billion on Terra-based applications and $7 billion on Solana-based apps.