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$ETH and $SOL Dominate Staking Projects by TVL in October 2024

Author: Content Editor
The Phoenix Group has released its latest rankings of cryptocurrency projects by the total value of staked tokens. Ethereum (ETH) and Solana (SOL) have accumulated the highest value of staked tokens, with $84.7 billion and $66.9 billion respectively. Ethereum stands out with a significant margin, followed closely by Solana. These two projects have consistently maintained their positions due to their strong staking mechanisms and community support. Other prominent projects in the ranking include Binance Coin (BNB), Sui (SUI), Aptos (APT), Cardano (ADA), TRON (TRX), and Avalanche (AVAX) with significant staked values. The report also highlights the varying staking ratios and reward rates of these projects, indicating the unique economic models and incentives designed by each project to attract stakers. Additionally, emerging projects like TIA, Polkadot (DOT), Telegram Open Network (TON), and TAO are making strides in the staking market with competitive reward rates and innovative mechanisms, while NEAR Protocol, Sei Network (SEI), and SAGA also feature in the rankings.

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