On the 21st of September, Satoshiclub took to its official Twitter platform to announce that, recently, Cardano surpassed both BNB and AVAX, with over 11 billion Cardano staked, placing third just behind Ethereum and Solana.
The increase in ADA stake can be attributed to Cardano’s unique delegation system, which enables ADA to scale even in situations when the collection of stakeholders is significantly fragmented.
In Cardano delegation, ADA holders without the proper knowledge to run nodes can participate in the network. They also earn passive income based on the amount staked. ADA holders are eligible to take part in stake delegation while still having access to their money.
In comparison to PoW mining, more income is earned, it is cheaper, and less energy is consumed when you stake ADA.
Unlike other similar platforms, there is no locking up of tokens or slashing on the Cardano platform. Stakers are free to stake and un-stake their ADA token as often as they like throughout the delegation process, and they can also swap pools at any point across epochs.
The minimum amount of ADA tokens needed to stake could have played a part in the rise. Around 10 ADA is required.
The crypto market is generally bearish now, but it has not seemed to affect interest in the Cardano platform. The hype of the long-awaited Vasil, meant to be fully incorporated today, could have played a massive part in the rise of stakes. Cardano developers have ensured that they ticked all the boxes with the various testnets. Finally, via full mainnet incorporation, Cardano enthusiasts will enjoy the benefits of the Vasil upgrade.
On the 22nd of September, a combined IOG/Cardano foundation body will employ the HFC to introduce Vasil at the protocol level. Developers will gain access five days after new features are released.