Ethereum staking is booming! According to data from Santiment, over 33% of all Ethereum (ETH) is now being staked, which is more than triple the amount staked just two years ago. This means that over 47 million ETH, worth about $147 billion, is locked up in a prominent ETH staking platform.
What is Staking?
Staking is like putting your crypto to work. You use your ETH to help validate transactions on the Ethereum network and earn rewards in return.
Ethereum’s Big Switch
This surge in staking is thanks to Ethereum’s big switch from a proof-of-work (PoW) system to a proof-of-stake (PoS) system in September 2022. This change made the network faster, cheaper, and more eco-friendly. It also led to a big drop in the amount of new ETH being created, making the existing supply more valuable.
Top Crypto Gaming Projects
Santiment also highlighted the top 10 crypto gaming projects based on their daily development activity over the past month. These include MultiversX (EGLD), Decentraland (MANA), Immutable X (IMX), Skale (SKL), and Root Network (ROOT).
Disclaimer: This information is for general knowledge and not financial advice. Always do your own research before investing in any cryptocurrency.
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