The very prevalent staking market of the cryptocurrencies is likely to grow in the coming time. Binance Research has reported that from October 24, almost $6.4 billion worth of crypto is being staked out of a market cap of $11.2 billion, and the staking market is anticipated to witness a rise with the release of Ethereum 2.0.
Staking, at present, embodies around 5 percent of the total crypto market. Binance states that the launch of Ethereum 2.0, which will be based on a new Proof-of-Stake consensus model will offer roughly 4% in yearly returns to investors who have at least 32 ETH, and will further ascend staking market’s share.
“As the infrastructure matures for receiving staking-related rewards and participating in DeFi, blockchain users will have more options at their fingertips to choose the products that best fit their needs. With Ethereum slated to switch to Proof-of-Stake in the not-too-distant future, the blockchain space may be forced to reckon with staking sooner, rather than late,” unveils Binance Research in the report.