TL;DR
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The top 35 stake-able cryptocurrencies hit an all-time high last quarter.
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Folks typically don’t lock their crypto up in staking accounts if they have plans to sell in the near term.
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Meaning: The more crypto is staked overall → the more it indicates people’s conviction in the space.
Full Story
Here’s some good news for your Friday morning:
A whooole bunch of people have got their crypto locked up.
That is to say: the top 35 stake-able cryptocurrencies hit an all-time high last quarter.
In fact, literally half (52.4% to be exact) of the available tokens in that list are being staked.
Which is cool and all…but ‘lots of people are staking their crypto’ ain’t the real headline here.
Really, it’s all about what this indicates.
Cause folks typically don’t lock their crypto up in staking accounts if they have plans to sell in the near term.
Meaning:
The more crypto is staked overall → the more it indicates people’s conviction in the space.
Noice!
