Today, market analyst Phoenix Group listed top crypto projects by total staked value on the Cosmos blockchain. Since launching its mainnet in March 2019, Cosmos has experienced growth. Driven by its composability infrastructure, the blockchain network allows various protocols to interoperate and maintain their sovereignty and governance on-chain, enabling them to operate diverse decentralized activities.
Data shared today by the analyst shows several projects are competing to be king in providing users with innovative staking offerings, driven by scalability and low cost.
Before looking at the top cryptocurrency projects on Cosmos, based on total staked value, it is crucial to understand what ‘total staked value’ means. The term means the value of all assets locked with a DeFi protocol, a key metric utilized in measuring the health of various platforms and the level of their user trust in an ecosystem, in this case, Cosmos.
While the data identified that crypto staking is getting stronger, it listed protocols that are leading the game on Cosmos.
Top Crypto Projects for Staking and Buying
Cronos (CRO)
According to the analyst, Cronos (CRO) commands a remarkable total staked value worth $1.0 billion, making it the largest staking protocol on the Cosmos blockchain. As per the data, the total staked value of assets locked for staking operations on the Cronos protocol crossed the $1 billion mark, making it the leading market player of staking activity on Cosmos, showcasing heightened user engagement and trust in the protocol.
Cosmos (ATOM)
Cosmos (ATOM) followed the list, with data indicating that the total amount staked in ATOM tokens is currently valued at $600 million, making it the second-largest staking protocol in the wider Cosmos blockchain ecosystem. This record shows increased user confidence in the Cosmos platform for staking services, partly contributed by the high APY reward that the protocol offers to users. As pointed out in the data, stakers currently earn a reward APY of 20.1% on Cosmos.
Sei (SEI)
Next is Sei (SEI). As reported in the data, there are currently $281 million of staked assets on Sei, making it the third-biggest staking platform on Cosmos. This shows increased investors participating in staking within the Sei platform, unlocking passive opportunities in the token locking service that runs on top of the Cosmos blockchain. The data further shows that the current staking reward rate for Sei is 7.4%, which implies that, on average, Sei stakers earn about 7.40% annually for holding their staked asset on the protocol.
Injective (INJ)
According to the data, as of today, February 7, $182 million in assets are currently staked on the Injective platform built on Cosmos. This figure shows that Injective holds a dominant market position in the staking sector, indicating that it has truly achieved product-market fit.
Celestia (TIA)
Fifth on the list is Celestia (TIA). As per the data. Celestia’s current total staked value reaches $142.2 million on Cosmos, reflecting the growth of its staking offerings and user enthusiasm on its protocol.
Other Top Cryptocurrency Platforms By Total Staked Value
The data further listed other leading protocols by staking investments on Cosmos, including the likes of Artificial Superintelligence Alliance (FET), Akash Network (AKT), Lava Network (LAVA), ZetaChain (ZETA), Coreum (COREUM), Babylon (BABY), Axelar (AXL), Terra (LUNA), dYdX (DYDX), and Band (BAND).
In other words, the data listed the top crypto projects with strong fundamentals and user trust, making them outstanding cryptocurrencies for investors and traders to consider buying for potential growth.
