Over the past week, the soaring prices of LUNA tokens have made LUNA tokens the second major digital currency bet on TVL, leaving Ethereum. In addition, the data source reported this data indicating that Terra’s LUNA coins have passed Ether coins. It is currently locked with a total value of over $ 28 billion.
According to data reports, the Terra Cryptography project has more than 226,325 stackers, accounting for $ 29.5 billion worth of staken LUNA tokens. Therefore, it has pushed the network to second place and rises above Ethereum.
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Stakeing Rewards has also released a report showing that LUNA has recently surpassed ETH coins based on the network’s Total Value Locked up. From the data, LUNA had over $ 29.5 billion of LUNA tokens locked for staking. In contrast, Ether has a $ 25.9 billion worth of locks for staking within the network.
Other areas where Terra exceeds Ethereum
According to platform data, LUNA has over 226,325 token stackers. It recently climbed that position and defeated 54,768, more than four times the ETH stacker. Terra is currently following Solana, with a total of over $ 35 billion locked.
LUNA rewards users with an average of 6.62% of their investment in annual staking revenue. However, ETH does offer a 4.81% staking reward. This is relatively lower than Terra’s staking incentive. Of the top 10 cryptocurrencies bet, the most rewarding crypto is the Polkadot (DOT) project, which offers an average of 13.92%.
Staking Rewards, a cryptocurrency staking platform, highlighted LUNA’s victory over ETH on Tuesday. Meanwhile, some crypto users still argue that the data from DefiLlama contrasts with the numbers.
According to DefiLlama data, Ethereum still outperforms its competitors in TVL (totals are locked) and is trading at a value of $ 111.4 billion.
In addition, at the other end, the total locked LUNA value was $ 23.35 billion. These values include the total amount of collateral locked by the DeFi (Decentralized Finance) protocol, ETH bet on the cryptocurrency staking platform Beacon Chain, as well as the differences.
Currently, Beaconcha.in Explorer data shows that over 9.7 million ETH tokens have been bet, totaling $ 26.5 billion and aggregated with data from Stakeing Rewards. Also, a similar trend established by the two aggregators is the recent surge in LUNA values.
Last week, LUNA’s TVL increased by 26.905%. And it surpassed the BNB smart chain. The BNB smart chain has a TVL worth $ 12.03 billion and is currently in third place.
Staking Rewards define the difference between TVL metrics and staking values
Data aggregator Stakeing Rewards explains the significant difference between TVL metrics and staking values. TVL metrics include total assets stored in the DeFi protocol of components such as loans.
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Last month, LUNA’s price rose 78.4% and is currently trading at $ 89, with a market capitalization of $ 34.5 billion.
Featured image from Pixabay, chart from Tradingview.com
