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Tuesday, November 29, 2022

LUNA Became The Second Largest Network For Staked Value

There has been news that LUNA has currently more than 226,325 stakers which accounts for almost $29.5 billion. This value made the token get the second position in regard to stake value. The data shared by Staking Rewards, LUNNA has overthrown ETH whose valuation accounts for $25.9 billion. 

How LUNA Achieved The Second Place Replacing ETH

The number of stakers in LUNA is around 226,325 which is almost four times the number of stakers in ETH which is almost 54,768. However, in regard to the value of stakes, Solana is at the top of the chart with $35 billion as its stake value. LUNA yields 6.62% staking rewards in a year which is 4.81% for ETH. DOT earns the most rewards annually which amounts to almost 13.92%. 

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The data and the rewards of staking concluded on Tuesday that the token has flipped ETH which was contradicted by the data of DefiLlama. As per its reports, the TVL of ETH is around $111.4 which is much greater than the TVL value of LUNA ($23.35). However, TVL includes collateral as per protocols of  Defi and thus, there is so much confusion. 

There has been news that LUNA’s interest rate has increased suddenly as confirmed by aggregators of data. Reports show that the value of TVL for LUNA is rising gradually over the last week to 25.905%. This made the token rise to third place in regard to BSC as it is worth $12.03 billion. There was a clarification that was declared by staking rewards that matrices regarding TVL and staked value are two different things. This is because TVL can include assets that will be locked due to protocols of decentralized finance, a feature that is used for lending.

The token’s price increased by 78.4% since the last month and will probably be worth $92.84 in the future. The recovery of its assets happened due to the protocol of Terra which burned tokens of LUNA worth $2.57 billion last month.

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