Cardano (ADA) Surpasses BNB and Avalanche by Staking $11.94 Billion


In recent tweets, the Cardano-centric Twitter account Cardano Daily discusses native asset staking on the leading PoS blockchains. Cardano rated third in terms of native asset staking, much ahead of Binance Chain, Avalanche, and Polkadot.

Cardano Daily said, “Additionally, only three of the blockchains on this list were able to withstand the bear market of 2018, and Cardano is one of them.”

Cardano has a total staked value of over $11.37 billion, according to statistics from crypto staking data source Staking Rewards, while BNB Chain has a total staked value of over $5.18 billion. Ethereum stayed in first place with $19.75 billion, followed by Solana in second and Avalanche in fifth place.

Total value locked (TVL), which refers to the total amount of crypto assets deposited in a decentralized finance (DeFi) system — or DeFi protocols in general — is sometimes contrasted with staked value. According to Staking Rewards, the requirements for staked value and TVL are “totally different,” since the latter may contain assets that are locked in decentralized finance protocols for activities such as lending.

At the time of writing, Cardano’s TVL has increased by 0.92 percent in the previous twenty-four hours to $80.85 million.

According to U.Today, Charles Hoskinson, the developer of Cardano, believes that Cardano’s total value locked (TVL) is low since staked coins are not included. To stake ADA tokens, users are not obliged to lock them beforehand.

If they were included, the TVL of the blockchain would be in the billions. This would make it one of the biggest DeFi platforms available.

However, DefiLlama, a prominent decentralized TVL aggregator, has claimed that it does not include native staking at all. If native asset staking were included, Cardano’s TVL would likely be approximately $11 billion at now.

Also Read: M. Saylor’s MicroStrategy purchases over 300 Bitcoins on the decline

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