News

Solana becomes the first crypto for passive income produced

Solana (CRYPTO: SOL) has become the world’s highest staking asset, according to data from Staking Rewards.

What happened

As of November 23, the total committed value of SOL tokens on the network was found to have exceeded $ 84 billion, making it the top choice for those looking to earn passive income on their cryptocurrency investments.

Staking is a way for users to earn interest on their cryptocurrency investments on the blockchain; currently the rewards for staking on Solana have a yield of 6.79% after adjusting the validator to current inflation.

The data suggests that a significant majority of SOL holders have opted for staking the crypto-asset, with 77.37% of eligible tokens currently committed to the network.

Earlier this month, the token rose to an all-time high of $ 260; some experts predict that the asset could reach $ 5,000 by 2030.

Meantime

After Solana, Cardano (CRYPTO: ADA) is the second most committed cryptocurrency in the world, with a staking value of $ 42 billion, followed by Ethereum (CRYPTO: ETH) with a committed value of 34 billion.

At the time of publication, Avalanche (CRYPTO: AVAX) had a total committed value of $ 31 billion e Polkadot (CRYPTO: DOT) of 23 billion.

However, the staking rewards for both of these crypto-assets were considerably higher, with AVAX offering an annual return of 9.38% and DOT of 13.99%.

Photo by Austin Distel on Unsplash.

Kim Lee

Kim is a Chinese girl and has studied in England. Kim loves playing video games, she likes Fortnite games. Kim likes Hollywood movies. Kim's English is very good, so she became a writer. Email : kim@d1softballnews.com

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button