LUNA has come up as the second most staked crypto-asset with more than four times the number of those staking Ethereum at 54,768. It is estimated to yield about 6.62% on average in terms of annual staking rewards. In comparison, Ethereum just brings in 4.81%. Solana is leading the stake charts with $35 billion in staked value and Polkadot is regarded as the most rewarding with 13.92%.
According to Staking Rewards, LUNA surpassed Ethereum on March 1 but some users believe that data from DeFi Llama contradicts these figures. Ethereum, as per DeFi Llama’s data, is well above its competitors in terms of total value locked (TVL) of $111.4 billion, while LUNA’s TVL is $23.35 billion. The figures include collateral locked across DeFi protocols.
Moreover, the Beaconcha.in explorer reports 9.7 million ETH staked. This is worth around $26.5 billion – similar to figures highlighted by Staking Rewards. Both data aggregators show that interest in LUNA has surged recently. LUNA’s TVL, in the past seven days, has spiked 26.905%. It is positioned third on the Binance Smart Chain at $12.03 billion. Staking Rewards pointed out that staked value and TVL metrics are very much different. TVL can incorporate assets locked in DeFi protocols.
Over the past 30-days, LUNA has gained a huge 78.4% and is trading around $92.23. Its market cap totals $34.5 billion. Analysts believe its bullish recovery comes off the back of the Terra protocol burning 29 million LUNA tokens worth about $2.57 billion in February.