#Solana passes #Ethereum in staking market cap, becoming the largest blockchain by staked value.
Solana Staking market cap stands at approximately $67-70 billion, with around 67-70% of the total $SOL supply (about 410-420 million $SOL out of 589 million circulating) actively staked across over 1,300 validators and 1.2 million delegators.
Ethereum Staking market cap is around $65-68 billion, with about 34-35 million $ETH staked (28-30% of the 120 million circulating supply) across over 1 million validators.
Ethereum’s higher minimum stake (32 ETH per validator) and reliance on liquid staking (e.g., Lido holds ~88% of LST market share) limit broader participation, though upgrades like Pectra (rolled out earlier in 2025) allow up to 2,048 ETH per validator for efficiency. ETH’s APY hovers at 2.98-3.08%, adjusted for burns from EIP-1559, which can make it deflationary during high activity.
Why is Solana passing Ethereum?
Solana offers an APY of 8.31-11.5% (inflation-adjusted ~12.5%), far exceeding Ethereum’s, thanks to its inflationary model (current rate ~4.7%, decreasing annually to 1.5%) and inclusion of MEV tips via clients like Jito (used by 92% of stake). This “risk-free” yield attracts stakers, with 64-67% participation vs. Ethereum’s 28%.
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