Aggregate market value of cryptocurrencies using the Proof-of-Stake consensus algorithm declined by 7% in Q3, to $254 billion. These estimates come from the Kraken-linked platform Staked.
The market share of such coins declined by 2 percentage points to 22%; Ethereum’s dominance in this segment fell by 1 percentage point to 79%.
“A lack of short-term catalysts, regulatory uncertainty and macroeconomic headwinds have cooled markets. While crypto assets fell 5–10% from the previous three months, they rose 10–40% year-on-year. This suggests that […] the market is far from the bottom,” the report said.
The value of assets locked in staking increased by 3%, to $74 billion, while annualised staking rewards in dollar terms declined by 7%, to $4.1 billion.
The yield on such operations stood at 10.2%, 0.4 percentage points lower than in Q2.
The share of locked coins from their current supply reached a record 52.4% (49.3% in Q2).
Leading in this regard were Aptos (84.1%), Sui (80.5%), Mina (77.6%), Solana (71.9%) and Cosmos (67.6%). The median among the top 35 coins stood at 52.6%.
In October, the Ethereum validator queue emptied for the first time since the April Shanghai hard fork.
Earlier, Glassnode analysts explained how LSD-protocols changed the supply structure of the second-largest cryptocurrency by market capitalisation and the dynamics of its issuance.