Terra has flipped Ethereum in terms of staked value with $29.5 billion worth of LUNA locked up compared to Ether’s $25.9 billion, as per data from Staking Reward.
In terms of annual staking rewards, LUNA is estimated to yield 6.62% on average, while Ethereum fetches 4.81%. The most rewarding out of the top 10 staked assets is Polkadot with 13.92%. Data indicated that interest in LUNA has surged of late. Over the past seven days, LUNA’s TVL has increased 26.905% and sits well above third-placed BNB Smart Chain at $12.03 billion worth of TVL.
The company website said the new feature “opens the door to a whole new world” of possible use cases including transactions within NFT marketplaces, auctions or reverse auctions. Although other services like Binance Pay or Bybit support P2P payments, the company said that they have “stepped in to fill the gap” in demand for this kind of service.
UMA was the biggest gainer with a weekly surge of 110%, followed by Thorchain which gained 62.5% over the past week. LUNA continued its dominance with another week of double-digit gains and posted a 40% surge. Oasis Network took the fourth spot with a 15% rise followed by Chainlink at 6.7%.While the DeFi ecosystem continues to make new breakthroughs, a rising controversy around the blocking of IP addresses for users in sanctioned countries has led to much discussion over the past 24 hours.
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