In anticipation of a major milestone in the evolution of Cardano (ADA) network, around 71.7% of ADA’s circulating supply has been staked across 2,665 active pools. At today’s prices, the total amount of Cardano staked is around US$31 billion. Most of the hodlers who are staking believe that ADA will achieve a major milestone, which could trigger a wider network adoption followed by a sharp increase in its price.
Cardano’s price against the US Dollar has increased by 1.47% on Friday to US$1.35, after a 4% gain yesterday. In terms of market capitalization, ADA is the 5th largest cryptocurrency. Its market cap is US$43,227,264,948.
In terms of staked value, Cardano is the most capitalized crypto, much more than any other cryptocurrency. Industry data shows that the staked value of Ethereum (ETH) is just US$12.2 billion, a distant second. The other altcoins in the top-5 position of the most capitalized cryptos are Solana, Polkadot, and Algorand.
By staking Cardano, the users get the opportunity to earn a passive income in terms of ADA. The best part is that there is no locking period associated for staking ADA. However, other protocols specify a minimum lock-up period so that you can earnstaking rewards.
Most investors expect the full smart contract to be implemented by later this summer. Input Output Hong Kong (IOHK) launched the Alonzo hard fork in May 2021. It paved the way for smart contract capability, which is likely to be completed as early as August 2021. IOHK revealed in a June 11, 2021 update on YouTube that Alonzo now has the capacity of running smart contracts.
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