Crypto Staking Interest Grows Among Retail Traders With Bitcoin Above $123,000 And Altcoins In Rally Mode, Poll Finds

As Bitcoin’s (BTC) price surged past $123,000 on Monday, with proof-of-stake altcoins like Ethereum (ETH), Solana (SOL), and Cardano (ADA) also rallying, more crypto investors are putting their assets to work. 

A new Stocktwits poll shows 43% of retail users are already staking their tokens, while another 30% are watching closely, signaling growing interest in earning yield during the bull run. The poll indicates that only 27% remain unfamiliar with the concept. 

Staking allows token holders to earn rewards by locking up certain cryptocurrencies on proof-of-stake networks. It’s commonly considered a way to earn passive income on assets that would otherwise sit idle between trades.

According to data from Staking Rewards, Ethereum remains the dominant network by total value staked, with over $109.56 billion locked. Despite offering a relatively modest reward rate of 2.9%, Ethereum’s scale and reputation continue to attract institutional and retail participants alike. Ethereum’s price gained 19% over the past week, during Bitcoin’s bull run, and its staking market capitalization increased nearly 20.5%. 

Solana ranked second, with $67.2 billion in staked assets and a reward rate of 7.32%, making it attractive to yield-seeking investors. Solana’s price and its staking market capitalization increased by more than 9% over the past week.

In third place is Sui (SUI), with $22.3 billion staked and a 2.31% reward rate. The newer blockchain, launched in May 2023, has quickly gained traction among developers. It is among the top 20 cryptocurrencies by market capitalization, and its token gained 36% over the past week. Its staking market capitalization jumped 35% over the same period.

Despite holding the fourth spot with $20.2 billion staked, BNB Chain’s (BNB) yield remains modest at 1.22%, and it underperformed the broader market last week with a 6.3% rise. Its staking market value also only increased by 1.7% in the last 7 days. 

However, some crypto traders on Stocktwits expressed apprehension given the lack of regulation around staking crypto and the lack of access. 

In a post on X, Economist Mohamed El-Erian said that Bitcoin’s rally was brought about by “an accelerating alignment of factors conducive to faster and broader adoption,” which included increasing institutional involvement, supportive regulatory developments, and robust market technicals, as well as wider speculative interest.

‘Crypto Week’ – where three crypto-linked bills, the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act, are set to be discussed in the House of Representatives – is scheduled to take off at 4 p.m. ET on Monday. Voting could begin as soon as Tuesday.

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Read also: Bitcoin Hits Record $123,000 With XRP, Dogecoin Joining Rally – MSTR, MARA Surge Pre-Market