The number of unique staking wallets on Cardano was nearly 1.23 million. Ethereum offered a higher staking reward for validators as compared to Cardano. In a tweet shared by Cardano founder Charles Hoskinson, the Cardano [ADA] network was shown to have significantly more unique staking wallets than the largest proof-of-stake network (PoS), Ethereum [ETH]. Read Cardano’s […]
, Ethereum was the largest network by staking market cap, having hit a value of more than $34 billion at press time. However, considerably less ETH tokens were used for staking purposes as the staking ratio was just 15.6%. In Cardano’s case, the staking ratio was more than 68%.
Furthermore, the growth in the number of validators on the Cardano chain was better than that of Ethereum. Despite the hype surrounding the upcoming , the cumulative validator count on Ethereum grew only by 4.2% in the last month. On the other hand, the number of stakers on Cardano jumped 7.29% in the same time period.However, Ethereum offered a higher staking reward for validators. The annualized reward rate adjusted for network supply inflation was over 5% in Ethereum’s case as compared to 0.16% for Cardano.
Additionally, the staking revenue presented a contrast between the two networks. Cardano’s stakers recorded monthly losses of 30%, per data from Token Terminal. On the contrary, Ethereum’s validators walked home with monthly profits of more than 9% on their stakes.
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