Cryptocurrency staking is already showing the hit and fun game traction overcoming the dilemma of the last few years because of the attractive yields. Recently, Ethereum wins the trophy to be one of the most staked crypto assets.
This news is whirling around after the successful Merge event of the Beacon Chain consensus layer incorporated with the Ethereum execution layer. Many new portals and reporters are encouraging this victory of Ethereum to be at the head in terms of market capitalization.
This announcement is yet another achievement specifically for the smart contract compatible with the blockchain network.
Since the whole digital space has witnessed the successful event of the Merge upgrade that occurred on 15th September 2022. During this blockchain transition, the protocol from proof-of-work was transited to a proof-of-stake consensus mechanism.
As per the data from reliable crypto staking data aggregator- “Staking Rewards”; Ethereum (ETH) currently carries 20 percent of the market share and also holds the top position being declared as the most value staked in terms of USD. The number counts to more than $19.69 billion USD worth of Ether.
Meanwhile, Solana (SOL) takes the second position with a staked market cap worth $13.4 billion USD. At the same time, Cardano (ADA) is one step down from Solana stepping in the third position with its $11. 9 billion USD worth of staked market cap.
The list of staked crypto has BNB Chain (BNB) holding over 5.4 billion USD, followed by Avalanche (AVAX) having worth 4.5 billion USD, followed by Polkadot (DOT), Cosmos Hub (ATOM), Tron (TRX), Polygon (MATIC) and Near Protocol (NEAR) as top ten in staking market cap.
Approximately at the time of writing, Cosmos (ATOM) has the highest staking rewards around 18.07% while Cardano (ADA) is offering lowest of 3.59%. There’s more to come in the headlines regarding crypto staking and mining as the trend is fluctuating with waves.
Looking at the crypto shuffle, many influencers see Upcomings DAO coming next in line with the above ten mentioned crypto staking platforms. The Upcomings DAO is new yet covers a much larger scope for all sorts of investors to get a section hold of UPCG tokens.
Since a huge momentum is taking place in the crypto industry, you need to keep a close eye on Upcomings DAO crypto platform for what’s coming.
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After the Ethereum Merge, the U.S. Securities and Exchange Commission has grounded its eyes on the aspects of the crypto-staking market. Looking at the effects of the event Gary Gensler, the SEC chief pointed out the securities laws that might become applicable to Ethereum as well. Chief says that proof-of-stake digital assets have the ability to pass the Howey test.
Although from the perspective of an asset, it seems another indicium under the Howey test where the investing audience is anticipating profits gained on the efforts of others. Though all are waiting with greater interest to see whether the SEC takes this issue seriously and hound regulation to improve its stronghold on the staking crypto.
Projects like Upcmomngs DAO will take over the global crypto staking market by giving elevation to Proof-of-stake algorithms and high volume stable staking and passive earning.