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A month after the activation of the Shapella update in Ethereum, investors continue to not only actively withdraw coins from the protocol, but also deposit them. The total volume of deposits in staking has already exceeded the amount of withdrawals. According to monitoring data, by May 18, since the update, 2.72 million ETH ($4.94 billion) had been withdrawn from the protocol, and $3.8 million ($6.9 billion) had been deposited.
Investment growth was facilitated by the interest of institutional traders. In April, the five largest staking platforms (Bitcoin Suisse, Kiln, Stakefish, Figment, Stake.us) blocked more than $230,000 ETH ($425 million) in the protocol. In May, the total supply of ETH coins in staking is estimated at $33.88 billion.
The current interest rate for placing Ethereum coins is 8.81% per annum. However, this is not the highest rate of return in the sector. The range of inflation-adjusted annual rates for PoS coins ranges from 0.05% to 53.37%.
The most profitable for staking in May was the DODO (DODO) cryptocurrency. Investor income from blocking coins amounted to 53.37%.
DODO is the native cryptocurrency of the DEX of the same name. For staking, you need to connect your Ethereum wallet to the platform and place any number of tokens in the Mining section. The current amount of blocked funds in the protocol is $17.24 million.
In second place in terms of profitability in staking is 1INCH (1INCH). Another decentralized exchange token in May brings investors 35.26% per annum. 1INCH staking is popular with $63.3 million currently locked in the protocol. The annual rate varies based on the number of tokens, holding time and other parameters that are determined by voting.
The top three in terms of profitability in staking is closed by the EOS (EOS) cryptocurrency. In May, investors place a coin at 31.79% per annum. The total value of the locked cryptocurrency is $303.51 million, a third of the market capitalization. Staking of the coin is available on the native EOSX platform and centralized exchanges. In the first case, you can get the right to vote to select a validator.
The top 5 profitable staking cryptocurrencies also included:
- Evmos (EVMOS) with a current annual rate of 27.44%.
- COTI (COTI) with a yield of 25%.
We remind you that earlier Crypto.ru published infographics on the most successful and unprofitable cryptocurrencies for April 2023.
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