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Cardano (ADA) Is Now The Biggest Staking Network

Cardano, the famous decentralized public blockchain and digital currency project, has been developing significantly over the course of the last few years. Cardano’s IOHK has made efforts for the development and growth of its ecosystem. With the passage of time, the network has evolved as one of the best staking networks in the industry. It has now become the biggest blockchain staking network in terms of total value staked.

Reportedly, 69 percent of the total circulating supply of Cardano’s ADA is currently staked on this blockchain network, as per the data from Staking Rewards. This has made Cardano the biggest staking network in the cryptocurrency industry. In order to become the top blockchain staking network, Cardano outshined the famous decentralized blockchain network Polkadot whose native governance token is DOT.

According to the Staking Rewards’ data, the total value staked on Polkadot is approximately 60.81 percent and it is now standing on the second spot in this case. While on the other hand, Ethereum 2.0 is sitting on the third spot with 1.59 percent of its value staked.

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Commenting on this development, the Founder of Cardano and the Chief Executive Officer (CEO) of IOHK, Charles Hoskinson, said that the Cardano network is also secure.

Where Cardano has registered this significant achievement, the native digital currency of this blockchain network is not showing an impressive performance in terms of price value as it is trading in the bearish zone over the last day. At the time of writing, the price value of ADA is standing at around $0.28 and is trading down by more than 13 percent during the last 24 hours. However, it is really bullish on a weekly basis as it is up by more than 50 percent.

While on the other hand, the native cryptocurrency of its competitive blockchain network Ethereum has showcased really remarkable performance over the past few weeks. It posted a potential over recent times which helped ETH to surge above the figure of $1300. The world’s second-largest digital currency in terms of market capitalization is now inches away from hitting its all-time high value which stands at above the figure of $1400.

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MubaShar Nawaz (United Arab Emirates)

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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