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Terra’s LUNA now second-largest asset in staking value, surpasses Ether

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by Kurt Ebenzer
3 March 2022
Terra’s LUNA now second-largest asset in staking value, surpasses Ether

Source: Unsplash

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With LUNA’s latest rally over the past week, Terra’s native token has become the second-largest asset in staking value, surpassing some of the top proof-of-stake blockchains such as Ethereum, Cardano, and others.

On Wednesday, the total value staked on Terra surged to as much as $30.2 billion, surpassing Ethereum’s $28 billion at the time. Prices have settled since then, resulting in LUNA to record $29.5 billion in terms of value staked across various protocols. Ethereum currently has $27.5 billion in staked value.

LUNA has risen to over 75% in the past week, more than any other cryptocurrencies in the top ten. It has risen by more than 76,000% from $0.12 in March 2020, making it one of the highest performing crypto assets in the last two years.

The currency almost touched its All-Time High of $100.6 on March 02, but fell after reaching $96.3. At press time, LUNA was trading at $92.09, down by 2.10% from yesterday.

Currently, Solana is the most staked asset with more than $37.8 in staking value at the time of writing. Meanwhile, Ethereum remains the top in terms of total value locked with its apps holding some $118 billion worth of Ether. It substantially surpasses Terra’s $23.7 billion and Solana’s $7 billion TVL, respectively.

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Kurt Ebenzer

Kurt Ebenzer

Kurt is an experienced writer with vast experience in documentation and interpretive math. His path to crypto journalism starts with Ourbitcoinnews and he hopes to shine new light in the noisy crypto media space.

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