Debate as Solana briefly flips Ethereum in staking market cap

Solana briefly overtook Ethereum in terms of staked token value, but there’s debate whether this is a bullish or bearish milestone.

The Solana network briefly surpassed Ethereum in total staked value of their respective native tokens, SOL and ETH, sparking debate over whether it is actually bullish or bearish for Solana. 

More than $53.9 billion worth of SOL is now staked on the Solana network from 505,938 unique wallet holders, who are making an 8.31% annualized return, blockchain data shows.

The figure briefly overtook the staked ETH market cap on April 20, which now has $53.93 billion worth of value secured from 34.7 million staked tokens, Beaconcha.in data shows.

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