The year 2022 is less than ten days from the end, but it can already be said that this is one of the worst years in the cryptocurrency market. Bankruptcies, failed projects, fraud and a 70% drop in the price of Bitcoin (BTC) have taken a heavy toll on the market. However, one service ended up going unnoticed by most investors: the cryptocurrency staking service. After all, this is one of the most efficient ways to generate passive income in this sector, avoiding the risks of loss. In August, Ethereum implemented The Merge update and joined the roster of staking protocols. In fact, the network ends the year with one of the highest yields offered in this modality, surpassing almost all competitors. So, now see which were the main staking protocols that stood out in the market in 2022.
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Solana (SUN)
The Solana network faced a completely adverse scenario, with a drop of more than 90% in its price. Once one of the top ten blockchains, Solana now barely makes the Top 20. However, its staking service continues to be popular with income seekers. Even with the collapse of SOL, Solana relies on a simple process to delegate staking, which caught the attention of validators. The network offers an annual yield of 5.32% for those who leave their tokens locked. It is possible to stake SOL on Coinbase, Binance, Huobi, Kraken, Phantom Wallet, Ledger Nano and Exodus wallets.
Tezos (XTZ)
The Tezos network has gone unnoticed among its competitors, but it also has a good staking service. Its validators can leave the XTZ token and earn a yield of up to 5.3% per annum. As a result, the network has a high stake percentage, with around 74% of validators locking their tokens. That is to say, around three out of every four XTZ in circulation were left staking. Platforms such as Ledger and Guarda wallets, as well as Binance, offer the option of staking XTZ.
BNB
With the collapse of FTX, Binance has come into the crosshairs of the community in recent days, with many people fanning a possible insolvency of the exchange. But Binance not only keeps its reserves firm, but also maintains one of the main staking in the market. Depending on staking durations and the number of tokens locked, the amount BNB investors earn varies. For example, investors can earn a yield of up to 12.99% by staking around R$25,000 worth of BNB for 120 days. Furthermore, having BNB means that Binance offers a 25% discount on transaction fees when operating on the exchange. Therefore, those who have BNB in their wallet accumulate additional advantages in relation to staking.
Polygon (MATIC)
Polygon is a second layer network within the Ethereum blockchain. Their total bid is 10 billion MATIC, of which 12% is used to pay for Polygon’s staking incentives. According to the latest data, Polygon has a total of USD 2.36 billion staked in staking and has more than 100 validators worldwide. Polygon is one of the top betting coins in 2022 and has distributed almost $500 million in rewards in the betting pool. Those who want to stake MATIC can use Binance, KuCoin, ByBit, Crypto.com and Lido Finance platforms.
Ethereum (ETH)
Ethereum staking was very popular when it first appeared, just before The Merge update. After all, ETH is the second largest cryptocurrency on the market, behind only BTC, and staking has emerged paying annual returns between 5% and 17%. However, unlike Cardano, betting on the Ethereum network requires a minimum of 32 ETH. In current values, this amounts to almost R$ 2.7 million, a very high amount. Some services allow users to do fractional staking, betting much smaller amounts. ETH staking is available on platforms from Coinbase, Binance, Kraken, OKX and Crypto.com, among others. Read also: Binance has no debt and assets are segregated, says new report Read also: 3 altcoins that could explode at any time
