Ethereum Now Tops The List Of The Most Staked Crypto Assets
The staking platform of the second-largest crypto assets has been receiving massive stakes since the network upgrade.
Per the recent news, Ethereum wins the trophy to be one of the most staked crypto assets.
The news comes following the successful merge event of the Beacon Chain Consensus Layer incorporated with the Ethereum Execution Layer.
There has been a lot of breakthrough from reporters concerning the merger in favour of the Ethereum network.
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.
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Per the data from the crypto staking data aggregator-“Staking Rewards”; Ethereum currently has 20% of the market share and also occupies the top position being declared as the most value staked in terms of USD. The number counts to more than USD 19.69 billion worth of Ether.
Ethereum Tops The Most Staked Assets’ List
While Ethereum occupies the first position, Solana Solana (SOL) takes the second position with a staked market cap worth USD 13.4 billion. 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.
Ethereum Has The Ability To Pass The Howey Test
The US Securities and Exchange Commission has taken its eyes off the crypto-staking market. Gary Gensler, the SEC chief recently clarify that that proof-of-stake digital assets can pass the Howey test as currently, the SEC laws may apply to Ethereum as well.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
