Solana Staking Ratio Reaches 68%, Surpassing Ethereum!

Bittime - According to the latest data, the Solana staking ratio now reaches 68% of total supply, surpassing Ethereum which is only at 58%. 

This staking ratio makes Solana one of the blockchain networks with the highest staking participation currently. Read this article to find out more!

Solana Staking Ratio Surpasses Ethereum

Source: x.com/solanafloor

Based on data from SolanaFloor, Solana's staking ratio managed to surpass Ethereum by quite a significant difference. Solana staking ratio hits 68%, temporary Ethereum only reached 58%.

This includes native staking and liquid staking, which allows token holders to still earn liquidity while participating in staking. 

It means, Solana becoming a more attractive blockchain for investors who want to earn returns from tokens while maintaining flexibility in the use of these assets.

Read Also: Solana Network Fees Drop, Allegedly Due to Pump.fun's Declining Popularity

Causes of Solana Staking Ratio Increases

There are several things that are driving Solana's staking ratio to increase. One of them is the speed and efficiency of the Solana network. 

Solana is known as a high-speed blockchain because it is capable of processing up to 65,000 transactions per second. This makes Solana the top choice for developers and users who want to deploy DApps quickly and cheaply.

Besides that, Low Solana transaction fees jis also one of the main attractions. Compared to Ethereum where gas fees often spike drastically, transactions on Solana are quite affordable, even when the network is busy. 

Apart from Solana Staking Ratio, DeFi and NFT Also Increases

Apart from staking ratio, Solana also continues to grow rapidly in the sector DeFi and NFT. Many projects and a new application launched on top of the Solana network. 

DeFi projects on Solana offer a variety of services, such as lending, token swaps, and yield farming. The growth of this sector also makes the staking ratio increase because it attracts users to invest in networks that support these various innovations.

Besides that, the NFT ecosystem on Solana is also increasing, with platforms like Magic Eden becoming a place for NFT trading. The growth of this sector encourages SOL token holders to stake because of the increasing utility and potential profits that can be obtained.

Read Also: Solana Founder Criticizes Biden Administration Amid Crypto Regulatory Uncertainty

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