RATE Group | Staking to generate $16 billion in crypto activity on Ethereum 2.0 rollout: report
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Staking to generate $16 billion in crypto activity on Ethereum 2.0 rollout: report

31 Oct Staking to generate $16 billion in crypto activity on Ethereum 2.0 rollout: report

Posted at 15:40h in Ethereum News by

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Staking blockchain-based tokens, the process of holding crypto for a set period of time and earning rewards, already accounts for approximately $8 billion in market activity. And that figure could soon double thanks to Ethereum, according to a new report from Binance Research.

The report, which Binance touts as the crypto industry’s “first major study into staking,” suggests that the crypto market could soon get a major boost from staking once Ethereum complete’s it planned transfer from a proof-of-work to proof-of-stake (PoS) blockchain network.

“With Ethereum’s impending switch to Proof of Stake, staking is expected to take a more substantial portion of the market’s attention. As more infrastructure players support staking, the entire ecosystem will be able to mature,” the report states.

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At the moment, staking represents roughly $8 billion in cryptocurrency activity,…

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