Solana May Top Ethereum in Staking Market Cap as Two‑Thirds of SOL Are Staked and Yields Stay High

• Solana staking market cap: $67–70B—now larger than Ethereum’s $65–68B.

• About 67–70% of SOL supply is staked across ~1,300 validators and 1.2M delegators.

• Key metrics: SOL yields 8.3–11.5% APY, Open Interest > $12B (CoinGlass), TVL ≈ $11.49B (DeFiLlama).

Solana staking market cap tops Ethereum as 67–70% of SOL is staked; read yields, TVL, and investor implications. Get the analysis and next steps.

What is Solana staking market cap?

Solana staking market cap measures the USD value of SOL tokens locked for staking. At current prices, staking locked at roughly 410–420 million SOL pushed Solana’s staking market cap to an estimated $67–70 billion, surpassing Ethereum’s staking valuation for the first time.

How did Solana surpass Ethereum in staking value?

Higher participation and stronger staking yields drove Solana ahead. Approximately 67–70% of SOL circulating supply is staked across more than 1,300 validators and 1.2 million delegators.

Staking rewards for SOL range between 8.3–11.5% APY, bolstered by inflationary rewards and MEV tips from Jito (JTO). By comparison, Ethereum staking yields are lower, around 2.9–3% APY, with about 34–35M ETH staked (28–30% of supply) and significant reliance on liquid staking providers such as Lido (LDO).

Two-thirds of SOL goes all-in — what are the participation figures?

About 67–70% of Solana’s circulating supply—estimated at 410–420 million SOL—was actively staked. Participation came from more than 1,300 validators and roughly 1.2 million delegators, indicating broad engagement across holders and service providers.

At prevailing prices, that translated into a staking market cap near $67–70 billion, surpassing Ethereum’s staking market cap, which stood around $65–68 billion.

Source: X (image)

How does Ethereum compare right now?

Ethereum remained a major staking ecosystem with ~34–35 million ETH staked (≈28–30% of supply) and over a million validators. Its staking market cap trailed slightly at $65–68 billion.

Ethereum’s higher validator entry requirement (32 ETH) and dependence on liquid staking providers such as Lido (LDO) have limited broader retail participation. Yields are lower, near 2.9–3% APY (StakingRewards), though EIP-1559 burns can affect supply during high activity.

Why is Solana ahead in staking economics?

Solana’s advantage stems from superior short-term yields and strong MEV capture. Stakers earn around 8.3–11.5% APY, supported by inflationary rewards and MEV tips predominantly captured by Jito (JTO), which secured a large share of validator rewards.

Rising derivatives interest reinforced the move: CoinGlass reported Solana open interest climbing above $12 billion, while DeFiLlama showed Solana TVL near $11.49 billion, signaling stronger demand across traders and builders.

Source: CoinGlass

DeFiLlama data indicated Solana TVL surged to $11.49 billion, reinforcing renewed confidence from traders and developers.

Source: DefiLlama

What does it mean going forward?

For now, Solana leads in staking economics due to participation and yield differentials. Whether it holds that lead depends on Ethereum’s upcoming upgrades and whether Solana can sustain high yields without long-term inflation risks.

Investors should watch on-chain metrics, protocol changes, and developer activity to evaluate sustainability rather than rely solely on current staking market cap comparisons.

Frequently Asked Questions

How sustainable are Solana’s staking yields?

Short-term yields are high (8.3–11.5% APY) due to inflationary rewards and MEV. Sustainability depends on inflation rate declines, validator economics, and continued demand from validators and delegators.

Can Ethereum regain the lead in staking market cap?

Yes. Ethereum’s roadmap, validator participation, and changes to staking incentives or burns could alter staking valuations. Upgrades and broader staking adoption can narrow or reverse the gap.

Key Takeaways

• Staking leadership shift: Solana’s staking market cap rose to $67–70B, surpassing Ethereum’s $65–68B.
• Participation & yields: ~67–70% of SOL staked; SOL yields 8.3–11.5% vs ETH’s ~2.9–3%.
• Watch metrics: Monitor TVL (DeFiLlama), open interest (CoinGlass), and protocol updates to assess long-term sustainability.

Conclusion

Solana’s staking market cap lead reflects a clear preference for higher short-term yields and strong on-chain demand. Solana staking market cap now exceeds Ethereum’s, but long-term dominance will hinge on inflation management, protocol upgrades, and continued developer and institutional engagement. Stay tuned for updates and on-chain indicators.