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