Cardano Records $30 Billion in Staked Value Ahead of Mainnet Launch


At press time, over $30 billion worth of Cardano (ADA) has gotten staked to the network ahead of the milestone transition in the network. With this, one could predict that the network is in the process of laying the groundwork for broader network adoption and more price appreciation for the cryptocurrency.

Cardano staking allows users to earn passive income in ADA without the usual hassle of locking up one’s assets for a certain period, as is prevalent with other staking platforms.

According to PoolTool, a Cardano-based staking statistics platform, a whopping 71.7% of the total circulating supply of ADA (worth roughly $31 billion) has gotten staked across 2,665 active pools.

This amount of staked coins has earned Cardano the number one spot in terms of staked value. Ethereum holds the second spot with a distant $12.2 billion in staked value. Other runner-ups in the top five listings include Solana, Polkadot, and Aldorand.

That said, investors are increasingly bullish on ADA as they anticipate full Smart Contract implementation later this year. This upgrade should put Cardano in competition with crypto giants like Ethereum, Solana, and Chainlink.

Input-Output Hong Kong (IOHK), the host company of Cardano, launched the Alonzo test net in May, which opened the network up for the highly lucrative Smart Contract compatibility. This feature should get fully unlocked with Cardano’s mainnet launch in August.

Key Cardano Levels to Watch — July 2

As the broader market adopts a bearish bias, Cardano has entered consolidation mode between $1.4000 and $1.3000. However, the fifth-largest cryptocurrency is simultaneously trading within a bullish wedge.

ADAUSD – 4-Hour Chart

That said, we expect a resumption of a bullish momentum over the coming hours as we enter the weekend. The immediate bullish target is the $1.4000 critical resistance. However, a break below the $1.3000 support could foment a correction to the $1.2000 level.

Meanwhile, our resistance levels are $1.4000, $1.4450, and $1.5000, and our support levels are $1.3000, $1.2000, and $1.1000.

Total Market Capitalization: $1.33 trillion

Cardano Market Capitalization: $41.6 billion

Cardano Dominance: 3%

Market Rank: #5


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.