Solana outpaces Ethereum in staking ratio, with 68% of supply locked

In a notable change in blockchain staking trends, Solana has overtaken Ethereum in terms of staking ratio, with 68% of the total supply staking as of September 2024. In comparison, staking accounts for only 28% of Ethereum supply. This demonstrates the significant difference in user participation in the two leading blockchain networks.

When you stake, you are locking up tokens to secure the blockchain network in exchange for a reward. This staking ratio is an important metric for assessing how much of the blockchain’s resources are used for verification and security.

Staking odds data includes both native staking, which locks tokens directly on-chain, and liquid staking, which allows users to stake tokens while maintaining liquidity with derivative tokens.

Solana has $50 billion more locked in betting pools than a year ago

Although Solana has a higher staking ratio, Ethereum remains the largest proof-of-stake (PoS) blockchain by total staked value. As of September, there were more than $88 billion in Ethereum tokens staked, compared to $58 billion for Solana.

Meanwhile, Solana’s current share price reflects a sharp rise from $7.5 billion in September 2023, implying more than $50 in new capital within one year. This dramatic growth highlights the growing participation and spread of the Solana network. But Ethereum’s higher overall value shows its strength as the leading PoS blockchain by asset value.

Notably, many more staked tokens have appeared on the Polkadot (DOT) network over the past year. Polkadot trails Solana in terms of staking ratio, with 58.88% of its supply locked. While Solana and Ethereum have billions of dollars in value locked, Polkadot lags far behind with just $3.9 billion.