Solana Becomes Top Crypto Asset For Passive Income With $84B In Staked Value

Solana SOL/USD is now the most staked asset, according to data from Staking Rewards.

What Happened: The total staked value of SOL tokens on the network exceeded $84 billion as of Nov. 23, making it the top choice for those looking to earn passive income on their crypto investments.

Staking is a way for users to earn interest on their crypto investments on the blockchain. The staking rewards for Solana currently yield 6.79% after adjusting for current validator inflation.

Data suggests that a significant majority of SOL holders have opted to stake the crypto asset, with 77.37% of eligible tokens currently being staked on the network.

The token rose to an all-time high of $260 earlier this month, with some experts predicting that the asset could reach as high as $5,000 by the year 2030.

What Else: After Solana, Cardano ADA/USD was the second most staked cryptocurrency with a staked value of $42 billion, followed by Ethereum ETH/USD with a staked value of $34 billion.

Avalanche AVAX/USD had a total staked value of $31 billion and Polkadot DOT/USD had a total staked value of $23 billion at the time of publication.

However, the staking rewards for both these crypto-assets were considerably higher, with AVAX yielding 9.38% and DOT yielding 13.99% per year.

Photo by Austin Distel on Unsplash.