In light of the growing adoption of the technology, many investors are turning to crypto betting, for to diversify their sources of passive income.
In terms of the total value of crypto assets pledged as of November 18, Solana ( SOL ) is the most staked digital asset by value, with $82 billion staked on the network, corresponding to 77,37% of eligible tokens, according to Staking Rewards , a well-known data source for staking and crypto-growth instruments, currently covering 261 yield-bearing assets.
Second in value at stake is Cardano ( ADA ), currently over $44 billion, 70,68% of the total value. Ethereum 2.0, Polkadot ( DOT ) and Avalanche (AVAX) round out the top five crypto assets in terms of value at stake.
Interestingly, in a recent report we highlighted that the figures from Pooltool , Cardano's data aggregation tool, show that ADA wallets have reached a total of 942,117 staking addresses as of November 10, 2021, adding 100,000 new betting addresses in just two months.
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However, it is worth mentioning that with Solana's recent rise to become the fifth largest cryptocurrency by market capitalization, the order of assets by value at stake has changed significantly since April 20, 2021, when the value of the top ten the most bet cryptocurrencies has changed to 99.2 billion dollars.
According to data, acquired and calculated by Finbold , at the time Cardano was leading the pack with 73,27% of the eligible staked tokens worth $27.35 billion. In comparison, Polkadot ranked second with 64,18% of eligible tokens staked worth $23.9 billion. In total, the two tokens account for over half of the top ten staking values at the time, around 51%.
Binance ranks as the 4th most popular crypto betting provider
From November 17, 2021 Binance , which is now the most popular cryptocurrency exchange in terms of total number of customers, is the fourth largest provider of cryptocurrency betting in the world, according to Crypto Differ; really Binance betting there are currently 90,569 users betting popular cryptocurrencies such as Cardano, Polkadot and Algorand ( ALGO ).
Notably, the other betting services that make up the top four include Ukraine's Everstake, which is in first place with 432,263 users. SwissBorg, with over 178,000 users, is the second largest betting provider with the ability to bet Ethereum 2.0 , Bitcoin ( BTC ) and Binance Coin (BNB), while Atomic Wallet, with 131,530 users, is the third largest betting provider in Estonia.
What is crypto betting?
Cryptocurrency staking is the method by which an investor locks up a certain amount of digital assets to earn interest, participate in token management, and verify transactions on a decentralized network.
Due to the potential for profit from betting incentives, crypto betting has seen an increase in investors. In addition to offering a reliable source of income, cryptocurrency staking contributes to the overall strength of the ecosystem by increasing demand and removing tokens from the circulating supply.