The “Terra” crypto project has become the second largest crypto project based on the “staking” mechanism, according to data provided by “Terra”.Staking Rewards”
Project Terra is only behind Solana.
The total percentage of LUNA coins hoarded is currently 41.35%.
The total dollar value of all LUNA cryptocurrencies participating in the quota has exceeded $30.1 billion.
Ethereum 2.0 comes in third with $28.4 billion in cryptocurrency stakes.
Cardano and AVAX are in fourth and fifth place, respectively, with cumulative values of $22.5 billion and $18.7 billion.
While DOT tokens are worth $12 billion and BNB is worth $7.8 billion.
Quoting is the process of locking in digital currencies in order to receive rewards in exchange for contributing to authenticating transactions and maintaining network security.
Terra’s current annual return is around 6.98%.
Terra offers higher rewards compared to Solana (5.84%), Ethereum 2.0 (4.81%) and Cardano (5.22%).
However, Terra has a much lower annual return compared to AVAX Coin (9.19%) and Polkadot (13.84%).
The price of LUNA is up almost 90% over the past week, significantly outperforming Bitcoin in terms of performance.
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