Recent statistics reveal that a significant portion of the overall supply of proof-of-stake (PoS) cryptocurrencies are being staked by users. A prominent crypto influencer account tweeted that users have staked 71% of Cardano (ADA), 70% of Solana (SOL), 85% of Binance Coin (BNB) Chain, 63% of Avalanche (AVAX), and 50% of Polkadot (DOT). These figures indicate a significant level of user engagement and confidence in the potential of these PoS cryptocurrencies.
In stark contrast, a mere 16% of Ethereum’s (ETH) staking potential has been realized, despite its status as one of the most popular PoS blockchains. A prominent crypto influencer recently posed a thought-provoking question to the community: what will be the impact of the upcoming Shanghai upgrade, which will allow investors to withdraw their staked rewards for the first time, on the percentage of staked ETH? Let’s wait and see.
Although PoS cryptocurrencies hold a significant market share, their value pales compared to Ethereum’s token. Take ADA, for instance, with a 71% staked rate and a trading value of $0.3842, while ETH boasts a trading value of $1,791. Ethereum’s unique value proposition sets it apart from the rest.
Inquisitive crypto influencer Lark Davis recently posed a thought-provoking question to his followers: what would impact Ethereum’s price if 60% of its supply were staked? While some community members remained nonchalant, one astute user responded compellingly.
On April 12th, we will see. There’s no need to panic as a couple of billion dollars will flow into the market again. ETH stakers are mostly professionals who are not likely to dump their holdings. A huge bull market is coming, so it would be unwise for them not to reinvest.
Based on the latest CoinMarketCap statistics, Ethereum’s value has exhibited a commendable level of consistency, hovering around the $1,750 mark for the past seven days without any noteworthy fluctuations. Likewise, other leading cryptocurrencies have also demonstrated steadfastness in their pricing.
