Top 5 Staking Tokens to watch out in 2022
In 2021, we saw the explosive growth of DeFI, surging nearly 1000%, with over 200 Billion USD total value locked, and staking becoming one of the most lucrative ways to earn passive income, and relish returns on investment.Simply put, staking is similar to an interest-bearing savings account with a typical bank, except that compared to the returns you may get from your bank (typically between 2-3%), staking rewards typically average between 5-30%, with some crypto platforms offering over 100%.Understandably, staking gets especially popular during bearish markets, where crypto investors would simply hold on to their investments, rather than selling at a loss, while earning high rewards for doing so. Below we have shared some 5 of the TOP Tokens to Stake in 2022.
Terra (LUNA), an open-source stablecoin network, hit an all-time high of $20.05 billion in total value locked, or TVL, across its 13 product offerings, according to industry data. On Dec. 1, Terra’s TVL was at $11.9 billion, signifying a 68% increase in less than a month. This means that the platform’s users are investing in large quantities into the protocol to receive staking rewards.The price of LUNA, Terra’s native token, is also steadily trending upwards, currently trading above $90, over 12,000% increase from it’s price of $0.7 in January 2021. The coin now has a total market capitalization of $34.8 billion, placing it in the top 10 crypto projects. The annual staking reward for LUNA is around 12.10%, a substantial return which makes this one of the best cryptos to stake.
JEDSTAR is the ‘new kid on the block’ as far as projects go, but are already making waves in the crypto world with their unique approach to some of the problems plaguing the crypto world. Concepts such as royalty for NFT creators; mining via a mobile app to allow lower-economical populations to earn income; anti ‘pump-and-dump’ mechanisms – just to name a few. But the highlight is $KRED – their ‘Currency as a Service’. This will be the first project independent cryptocurrency that will allow game developers a ‘plug-and-play’ solution to transform their game into a true GameFi game, without the overhead of managing their own cryptocurrency themselves – and allows access to a universal currency.The token launched at $0.0001 and saw an all time high of $1.13 in November, and is currently sitting at a good entry level of $0.39.
On a staking front, JEDSTAR allows the staking of their utility token $JED on their platform in exchange for rewards in $KRED on their STARSTAKING platform, which you can find at https://jedstar.app. The rewards range from 5x (500%) for 30 days, and up to a staggering 120x (120,000%) a year!
PancakeSwap is a fun and popular staking platform that provides users with the ability to stake any CAKE coins they accrue. When you stake your CAKE coins, you can choose to earn additional CAKE or other types of coins.
In comparison to platforms like Ethereum, transaction fees are considerably lower with Binance Smart Chain. Once you’ve obtained rewards on PancakeSwap, you can either claim them or reinvest them into the platform. The annual returns for the CAKE coin range from 31–42%, which makes this one of the best crypto staking coins on the market.
Shiba Inu ($SHIB)
The SHIB token was designed to outpace the growth of Dogecoin and without reaching $0.01. Many investors see SHIB as an addition to their cryptocurrency portfolio, as an asset to buy and hold. Now, the ShibaSwap exchange launch creates a far broader utility for SHIB because holders can stake (bury) and farm (dig) their tokens. Shiba Inu is unique because, whilst it runs on Ethereum (currently PoW), the initial supply of SHIB was minted on launch, which means that you can’t mine the token.
On the ShibaSwap exchange, SHIB holders can stake (bury) their Shiba coins, representing their original SHIB holdings and staking rewards are BONE tokens and 0.03% of ETH swap transaction fees on the exchange.
Solana is an efficient blockchain that was designed with scalability in mind. This scalability is achieved via Solana’s low fees and quick transactions. When it comes to crypto market caps, Solana ranks #7. SOL is one of the best staking coins because of the speed of transactions and the low cost for completing them. Most transactions are finished in a few seconds. While you can’t manage your own node when staking on the Solana network, there are more than 640 validators with whom you can stake your coins.
When you delegate your stake to validators on Solana, you’ll be able to participate in the rewards that these individuals receive. SOL coins have performed extremely well over the past few months, reaching an All-time-high of $210 per coin. When you stake your coins with Solana, you can expect to receive annual returns ranging from 7–11%.Source