Tezos surpasses EOS in staking and price for the first time
Tezos (XTZ) cryptocurrency, which ranks tenth in the list of the largest assets in the market, came out on top in terms of the amount of funds provided by its holders for staking.
According to Staking Rewards, on April 25, Tezos exceeded $ 1.91 billion, while its closest competitor EOS is about $ 1.6 billion. Even at the beginning of the week, Tezos lagged behind EOS, and a month ago it had about $ 1 billion in staking..
Tezos’ total capitalization is currently $ 1.97 billion. Thus, only 3% of existing XTZs are out of staking. For EOS, this figure is about 40%. The next largest assets in terms of staking assets are Algorand (ALGO), Cosmos (ATOM), Dash (DASH) and Tron (TRX).
Tezos uses a variation of the popular Proof-of-Stake consensus mechanism, where coin holders are encouraged to block them on staking wallets, which gives them the opportunity to participate in block validation on the blockchain, earn rewards and vote on important decisions in the ecosystem.
Tezos’ staking availability has been greatly expanded in recent months thanks to the actions of cryptocurrency exchanges. For example, Kraken, Coinbase, and Binance have launched related services. The latter offered its users the possibility of staking commission-free, but it is Coinbase with its custodian service for institutions that is the largest validator..
In terms of price, Tezos has also shown remarkable results lately. Having dipped briefly below $ 1 during the mid-March cryptocurrency market crash, XTZ rallied nearly 200% in six weeks and is now trading around $ 2.75.
This is another new record ahead of EOS, which costs $ 2.72 at the time of publication. At the same time, EOS is ranked ninth in the list of crypto market assets due to its higher capitalization, surpassing Tezos by one position.