$30 Billion: Cardano ($ADA) Has Over 70% of Supply Staked Ahead of Major Upgrade

[Btceth01]

Cardano, the fifth-largest cryptocurrency network by market capitalization, now has over 70% of its circulating supply staked ahead of a major upgrade that will bring smart contracts to its network, allowing decentralized finance applications to be deployed on it.
According to data from PoolTool, first spotted by Cointelegraph, 71.66% of ADA’s circulating supply is now staked across 2,672 pools. A total of 672,217 addresses are staking their funds. Staking funds on Cardano allows users to earn passive income from their ADA without having to lock up their assets. Cardano is now by far the cryptocurrency network with the most valued being staked, as Ethereum is far behind with $11.78 billion. Next on the list come Solana with $10.79 billion and Polkadot just over $10 billion. Users on ADA get over 7% per year, while on Ethereum the rewards are of little over 6%, and on Solana 4%. On Polkadot, rewards go as high as 13.2%. The amount staked on Cardano has been rising ahead of the Alonzo upgrade, which will bring smart contracts to the network. These smart contracts will allow DeFi applications to be built on top of Cardano, allowing it to compete with Ethereum, Binance Smart Chain, Polkadot, and Solana.Source

[Bobcrypto]

I think this will further boost Ada market value when smart contracts is successfully added on it's network. I see Ada coun moving to the number three position on CMC after the upgrade. Ada token look like an unstoppable beast, a great idea from Cardano Team, and  a welcome development. Ada will hit moon in 2022.

[jonathancool220]

70% of the total Cardano coins are staked on the latest platform from Cardano so this is very good and has an extraordinary value because 70% is a very large value.
And maybe the rest is circulating in the market to be traded and invested in centralized exchanges but unfortunately I don't understand how Cardano coins work for staking.

[MrSpasybo]

I have a little wonder: 70% of the number of ADA is holding in staking, so what is the real value of ADA? Is to stake or to use in the ecosystem of Cardano in the future? Obviously, the mission of a top token as ADA is not in staking pool, it must be a payment method for huge ecosystem to benefit all users.
Therefore, I believe that as soon as the Cardano platform is officially launched with the full tools needed, the number of ADA in Staking Pool will decrease to go into circulation.