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PANews, April 21 - According to Cryptoslate, on April 20, the total staked value of Solana (in USD) briefly exceeded that of Ethereum. Based on staking data shared by Nansen CEO Alex Svanevik, the value of staked SOL tokens on Solana peaked at over $53.9 billion. This figure was slightly higher than Ethereum's staking market value of $53.7 billion on the same day. However, Solana's lead was short-lived. At the time of writing, Ethereum regained the top spot with a staked value of $56 billion, while Solana's was $54 billion. Although Solana's lead was temporary, this event rekindled discussions about staking incentives, network security, and user behavior within the two ecosystems. Market observers noted that a key factor in Solana's rise is its attractive staking yields. According to Staking Rewards, Solana currently offers a network-level return rate of 8.31%, significantly higher than Ethereum's 2.98%. This difference may encourage users to choose staking their tokens rather than engaging in borrowing or providing liquidity through DeFi protocols. Furthermore, Solana's staking participation rate is approximately 65%, indicating active community involvement. However, Solana lacks a stringent penalty mechanism for misbehaving validators. Therefore, critics like Ethereum researcher Dankrad Feist argue that while Solana encourages staking, it sacrifices economic security in the process.

According to Whale Alert monitoring, at 18:38 (UTC+8), the USDC Treasury minted an additional 250 million USDC on the Solana chain.