After a year of rocketing growth, 2020 looks set to push investors into staking platforms even further as latest reports show, According to Staking Rewards, a staking platform data aggregator, the total staked amount in dollars currently stands at $6.961 Billion USD, with seven of the top ten coins all registering over $100 million USD in staked coins. However, the research conducted by Crypto Differ excludes Tron (TRX), which stakes 22% of the total ~1 billion USD worth of TRX.<\/p>\n
Staking allows cryptocurrency holders to earn passive income by storing their coins on protocols designed to payout interest.<\/p>\n
The research from Crypto Differ places the total staked amount in dollars at $6.961 billion USD, excluding TRX, with the push to $7 billion USD set to happen sooner rather than later. Staking cryptocurrencies have gained traction in the past year as a number of exchanges introduced zero fee staking such as Binance Staking Protocol which launched a free staking platform for Tezos at the end of last year.<\/p>\n
The market capitalization of staking cryptocurrencies currently stands at $11 billion dollars, which shows over 60% of the total cap is held in staking protocols. The top seven coins which hold at least $100 million USD including EOS, Tezos, Cosmos, Algorand, Dash, Synthetix and NEM, hold a combined $4.5 billion of the total ~$7 billion staked, representing approx. 64% of the total.<\/p>\n
While the field is growing at an astronomical pace, four of the top staking projects seem to be controlling much of the market with ~$4 billion staked across the four crypto projects. Eos (EOS) leads the pack with $1.822 billion USD staked, representing a quarter of the total amount staked. Tezos (XTZ), Cosmos (ATOM) and Algorand (ALGO) complete the list of project with over $500 million USD staked with $832 million USD, $771 million and $515 million staked respectively.<\/p>\n
We calculated the ratio of staked coins to the circulating supply as well. The leaders are Cosmos (98.6%), Livepeer (95.6%), Synthetix (88.3%), Kava(86%) and Tezos (85.8%). StakingRewards.com on the 2020 staking report.<\/p>\n
However, there remains questions of the exclusion of Tron (TRX) from the list of staking projects as explained by enthusiast and community member, Mike McCarthy. The eleventh largest crypto has a total of $329 million USD staked, as at time of writing representing approx. 22% of its total market capitalization.<\/p>\n
The field of staking is just taking off and this year looks to provide a larger market for staking products. Can the market breach $10 billion in 2020?<\/p>\n
Summary<\/p>\n
Article Name<\/p>\n
RESEARCH: Cryptocurrency Staking Value Soars To A Record $7 Billion USD<\/p>\n
Description<\/p>\n
Total value in USD on staking platforms on the verge of breaching $7 billion USD.Eos, Tezos, Atom and Algo lead the standings with over $500 million USD staked in each platform<\/p>\n
Author<\/p>\n
Lujan Odera<\/p>\n
Publisher Name<\/p>\n
Coingape<\/p>\n
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