LUNA flips Ethereum becoming second largest network for staked value - BitcoinEthereumNews.com
Top 5 networks by staked value, Mar. 4 – Stakingrewards.com Staking Rewards highlighted the flippening on March 1, noting that LUNA staking had overtaken Ethereum, however, some users pointed out that data from DeFi Llama appears to contradict the figures dramatically. DeFi Llama‘s data shows that Ethereum towers over its competitors in terms of a total value locked (TVL) of $111.4 billion, compared to LUNA’s TVL of $23.35 billion. However, these figures incorporate collateral locked across DeFi protocols, not just ETH staked on the Beacon Chain, hence the discrepancy. The Beaconcha.in explorer currently reports 9.7 million ETH staked worth around $26.5 billion at current prices which is similar to Staking Rewards figures. One trend that both data aggregators have confirmed, however, is that interest in LUNA has surged of late. Over the past seven days, LUNAs TVL has increased 26.905% and sits well above third-placed Binance Smart Chain (BSC) at $12.03 billion worth of TVL. Staking Rewards clarified that staked value and TVL metrics are “entirely different,” as the latter can also incorporate assets locked in decentralized finance (DeFi) protocols for features such as lending. The price of LUNA has gained a whopping 78.4% over the past 30 days to sit at roughly $92.84 at