According to Staking Rewards data, Terra (LUNA) has reversed Ether (ETH) in terms of stake value, with $29.5 billion in LUNA opened compared to Ether’s $25.9 billion.
Platform data shows that there are currently 226,325 players in LUNA, making it the second largest crypto asset with more than four times the number of ETH stakeholders (54768). Solana leads the $35 billion betting project.
In terms of annual effort rewards, LUNA is valued at an average of 6.62% and ETH at 4.81%. The top 10 most profitable asset is Polkadot (DOT) with 13.92%.
Top 5 Networks According to Stake, March 4 – Stakingrewards.com
On Tuesday, Staking Rewards indicated that a shift had occurred, noting that LUNA’s efforts had surpassed ETH. However, some users have noted that DefiLlama’s numbers are in stark contrast to the numbers.
DefiLlama data shows that Ethereum outperforms its competitors in terms of total locked value (TVL) of $111.4 billion compared to LUNA’s TVL of $23.35 billion. However, these numbers include the collateral held in DeFi protocols, not just the ETH bet on the Beacon Chain, and hence the skew. The researcher at Beaconcha.in is currently reporting 9.7 million ETH, worth around $26.5 billion at current prices, which is equivalent to the number of staking Rewards.
However, the trend confirmed by both data collectors is that interest in LUNA has recently risen. Over the past seven days, LUNA’s TVL is up 26.905% which is far above the third-ranked BNB Smart Chain (BSC) with $12.03 billion in TVL.
Staking Rewards states that the values of equity and TVL are “completely different,” as the latter can also include assets locked into decentralized financial protocols for functions such as lending.
LUNA’s price is up 78.4% in the past 30 days and is around $92.84 at the time of writing, with a market capitalization of $34.5 billion at the moment.
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As previously reported by Cointelegraph, the asset’s bullish recovery comes with the Terra protocol burning 29 million LUNA tokens worth $2.57 billion late last month. The move coincided with the delivery of TerraUSD (UST) – a stablecoin backed by LUNA – which increased by more than 14.5% to 12.92 million tokens.