Top 5 Staking Coins that are Worth Exploring
When the total value locked of the DeFi industry reached over $200 billion, investors began to see staking as a smart way to earn a good income. Staking allows you to earn rewards for holding a particular crypto asset. You can simply compare it to an interest-bearing savings account. Some investors prefer to deposit or stake their assets, rather than trading them, and experiencing some losses in the process. Here are the top 5 staking coins to watch out for in 2022.
Solana ()
Solving the scalability problems in the DeFi industry is the main feature of Solana, making it one of the biggest cryptocurrencies today. With a transaction speed per second of 65,000 TPS, Solana is the fastest blockchain in the crypto industry. Due to this advantage, SOL is considered one of the best staking coins in the market. Staking SOL coins can reward users by up to 7-11% annually. The latest development in Solana will improve the Solana mainnet and the PoH protocol, to upscale its TPS. The upgrade will make the network faster, more secure and cheaper than before, significantly increasing the token utility.
PancakeSwap ()
PancakeSwap has been one of the most inviting cryptos in the industry lately, due to the outstanding features of the projects on its blockchain. CAKE is the token utilized in the PancakeSwap network. The developers of PancakeSwap are working hard to increase its token’s utility, which is why the demand for CAKE is on the increase. Staking CAKE will earn you more CAKE tokens in the long run. Recently, the PancakeSwap team has launched a lottery and an NFT collection for CAKE holders. Winners in the lottery can have CAKE or NFT tokens as prizes, which they can also use or include in their staked assets. These are just some of the reasons why PancakeSwap is growing so fast.
Terra ()
Terra is one of the most sought-after crypto projects in the industry. It offers its users access to a host of projects outside the Terra network that airdrop for LUNA token holders. LUNA is Terra’s native coin that provides holders with voting and governance rights across the community. The latest project on Terra, LUNILAND, will be the first Metaverse with plots and passive income on the network. Moreover, Terra has allotted $139 million in five different DeFi projects including Polygon, Ethereum and Solana, to enhance the utility of UST.
Shiba Inu ()
Shiba Inu (SHIB), a cute dog meme coin, is not just an ordinary meme coin, since it is expanding its utility. Shiba Inu launched a decentralized platform, ShibaSwap, to allow its users to swap and stake their SHIB token. Staking SHIB will reward its users with $BONE, the cryptocurrency that powers the ShibaSwap Ecosystem. Shiba Inu has been thriving for a long time, and it has shown some impressive gains over the last months, thanks to its active community and Elon Musk’s tweets.
JEDSTAR (JED)
JEDSTAR (JED) is one of the most recent crypto assets in the market, which is now making its name in the industry. The way JED responds to existing problems makes it stand out from the rest. It features royalty for NFT developers, an anti-pump-and-pump mechanism, and mining, using your mobile phone, to open doors for low-income individuals to stake. $KRED is the token reward you get when you stake $JED—staking rewards range from 5x for 30 days, to 120x a year. This “new kid on the block.” is really making an effort to get to the top.
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