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Home Latest News Ethereum Eth2 is the fourth largest staking network and continues to expand

Eth2 is the fourth largest staking network and continues to expand

Eth2 still ranks as TVL's fourth-largest staking network despite being launched six weeks ago and with withdrawals yet to be made.

Ethereum 2.0 has now appeared as the fourth-largest proof-of-stake network with a total valuation locked in a staking after about six weeks of the Eth2 Deposit Contract going live.

Approximately 1 billion worth of Ether has already been allocated for staking, despite withdrawal features not yet allowed and no specific estimate for its complete launch date. More than 1.5 million Ether, or 1.35 percent of the availability of Ethereum, has been deposited for staking, according to crypto data aggregator Staking Rewards. Ether staking rewards are currently valued at about 13.20 percent, which means that at the market price of about $645, a single stake of 32 ETH will gain $2,725 over one year.

Polkadot, the brain-child of co-founder Gavin Wood of Ethereum, is currently the largest overall value-locked staking network. The network has seen 67.51 percent of its staking supply, estimated at approximately $3.4 billion, since Polkadot’s mainnet launch in May. Cardano, a rival network of fellow Ethereum co-founder Charles Hoskinson, ranks as a close second, with a staking TVL of $3.37 billion locked since July for 65.53 percent of its supply.

According to cointelegraph.com, in 2018, Tezos launched staking and has the highest network participation rate among staking networks, ranking 79.43 percent among the top 50 crypto assets by capitalization. Tezos has a current $1.38 billion staking cap. Cosmos has also emerged as a top proof-of-stake network since its mainnet launch last year with a staking TVL of $915,593,114 locked up for 71.77 percent of its availability. Although the developers of Ethereum 2.0 have yet to offer a definite date when users will be able to withdraw their staked Ether, Rocket Pool staking service provider recently predicted

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