Top 5 Altcoins Ranked by Network Staking Activity

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Several cryptocurrency projects are built on the concept of proof of stake. To ensure the network is secure, they require a significant amount of staking on the network. The following five altcoins all check the right boxes in this regard. Statistics provided by Messari.

Cosmos (ATOM)

The Cosmos ecosystem is getting a lot of attention in recent months. Not just because of its DeFi solutions, but also due to hefty staking going on. With nearly 94% of the network engaged in actively staking ATOM, the network is certainly looking very healthy right now. For a project with a market cap of nearly $1.17 billion, things are certainly heading in the right direction.

Synthetix (SNX)

Given the popularity of DeFi solutions today, it would appear that things are heating up. The upcoming launch of synthetic futures will certainly introduce some crucial changes in the near future. Overall, the network notes a healthy amount of staking, with 83.07 % of the users engaged right now.  All in all, Synthetix appears to be in a good place, although further raising the network stake percentage could be worthwhile.

Tezos (XTZ)

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It is a well-known fact that Tezos staking – or baking – has been very popular since the start. Even though XTZ has not been doing too great in the price department as of late, nearly 80% of the network remains engaged in staking today. A respectable number, given the yield one could earn by choosing the right baker to delegate rights to. 

Algorand (ALGO)

Another currency getting a lot of attention as of late is Algorand. It too supports proof-of-stake, which keeps 73.2% of the users engaged as of right now. Not a bad statistic, but there is still room for further improvements. It will be interesting to see if this number increases further, or starts to drop down now that the ALGO price is going down. 

Zcoin (XZC)

Last on this list is Zcoin, an altcoin that has seemingly not gotten too much attention lately. Privacy coins, and forks of privacy coins, often tend to lose traction among altcoins fairly quickly. The positive news for ZCoin is how it still has 72.92% of the users engaged in staking, which helps secure the network as a whole. 

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