Terra set to become the world’s largest blockchain by staked value, and Ethereum 2.0 reached a milestone

Terra’s LUNA is one cryptocurrency that has mostly remained unaffected by the current cryptocurrency market slump. With the LUNA price creeping closer to $100, it has been able to maintain its position.
Terra set to become the world's largest blockchain by staked value, and Ethereum 2.0 reached a milestone.

Unlike the other top ten cryptocurrencies, LUNA is now trading in the positive territory at a price of $97.27.

The achievement comes amid a surge in DeFi activity on the Terra blockchain. Last week,  Terra surpassed Ethereum 2.0 in terms of total staked value. Terra is closing the gap quicker than Solana to become the largest blockchain by staked value, according to data from Staking Rewards.

Solana’s total staked value is currently $31.5 billion, whereas Solana’s is $31.6 billion. Terra’s (LUNA) surge, despite the recent market upheaval, indicates that it is on its way to becoming the dominating player.

Terra’s LUNA has outperformed the broader crypto market! While most cryptocurrencies have experienced significant price drops in the last two weeks, the LUNA price has nearly doubled.

Ethereum 2.0 has more than $10 million invested in it.

Ethereum 2.0, on the other hand, is set to reach a significant milestone. On the Ethereum 2.0 blockchain, more than 10 million Ether (ETH) have been staked, with a total staked value of $26 billion.

Staking is now taking place on the Beacon Chain’s deposit contracts. The Beacon Chain is expected to join with the Ethereum blockchain and replace miners by July.

Users can stake their existing ETH on the Ethereum 2.0 consensus layer under the current arrangement. To participate, each user must deposit and stake 32 ETH in the official Ethereum launchpad in order to gain network validation.

As a result of the delayed pace of the transition to Ethereum 2.0, other Ethereum Layer-1 competitors have gained ground. Every month, we’ve seen Ethereum’s market share in the DeFi area decline as competitors like Solana, Terra, Avalanche, and others gain traction.