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LUNA flips Ethereum 2.0 and Solana by staking market cap

The native staking and governance token of the Terra blockchain, LUNA, has overtaken both Ethereum 2.0 (ETH) and Solana (SOL) in its staking market capitalization, making it the best performer in this sense on the market.

This information, along with a detailed chart of the performance of the top 10 platforms according to their staking market cap, was tweeted by the crypto data aggregation and analytics platform CryptoRank on Friday, March 11.

Source: CryptoRank

The news was also published in a tweet by the cryptocurrency data analysis platform Staking Rewards, stating that this has made LUNA the largest Proof-of-Stake (PoS) network by staking market cap.

At press time, Terra’s staked value was standing at $32.08 billion, with 41.79% of eligible tokens staked. It was very closely followed by Solana at $32.04 billion and 74.34% staked tokens. Finally, Ethereum 2.0 was in third place with a staked market cap of $25.15 billion and 7.92% staked tokens.

The development comes in the wake of the newest milestone for Ethereum, as the amount of ETH staked in the 2.0 contract surpassed 10 million. This achievement was contributed by over 65,910 uniques addresses, according to the data from the AI research firm IntoTheBlock.

Source: IntoTheBlock

Strong rally for LUNA continues

Interestingly, LUNA first toppled Ethereum 10 days ago, overtaking its second place in the charts, and emerging as its strong competitor. Notably, the token hasn’t stopped its upwards trajectory ever since.

LUNA seven-day price. Source: CoinMarketCap

The price of Terra’s native cryptocurrency at press time was $99.65, which is a 10% increase from seven days before when it traded at $89.5. 

In general, the token looks to be following a general upward trend, as its price just one month prior was at $56.9, according to the CoinMarketCap data.

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