Tezos becomes the biggest staking network with over $1.8B assets locked in staking
- With over $1.8 billion, Tezos (XTZ) has surpassed EOS and now has the most assets locked in staking.
- As the total market cap of Tezos is around $1.95 billion, it means that nearly 93% of all XTZ in circulation is locked.
Tezos (XTZ) has become the biggest staking network and has surpassed EOS with more than $1.8 billion assets locked in staking, as per Staking Rewards data. As the total market cap of Tezos is around $1.95 billion, it means that nearly 93% of all XTZ in circulation is locked. EOS, which is in second place, has about $1.6 billion (64% of its total market capitalization). Algorand (ALGO), Cosmos (ATOM), Dash (DASH), and Tron (TRX) are next on this list.
As Tezos surpassed the $1 price mark, it became accessible for staking over the past few months. Exchanges, including Kraken, Coinbase and Binance, started offering XTZ staking as well. Binance also announced a zero-fee Tezos staking in-exchange mechanism. Investors staking Tezos need to “lock” a certain amount of coins, which are based on the Proof-of-Stake consensus algorithm or many of its varieties. The holders who “stake” their assets are generally entitled to the right to vote and get to participate in the on-chain network governance.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
