Around 34.69M $ETH is currently staked on the Beacon Chain.
That’s a full 30% of Ethereum circulating supply, and might be part of the reason why Ethereum’s up 7% over the past month.
In short, staking is good if you’re an $ETH investor.
The situation proves one of crypto’s biggest selling points – the ability to generate long-term passive rewards from existing assets.
Staking, in other words.
If you’re already staking Ethereum, what’s the next crypto to add to your staking portfolio? And why stake instead of selling?
We’ll answer those questions below.
Crypto Staking Demonstrates Long-Term Commitment
Think of staking like earning interest on a savings account. But instead of dollars or euros, you’re keeping cryptos like Ethereum or Solana in the account. And earning passive income while doing nothing.
However, unlike fiat savings, which often depreciate because of inflation (and the interest can barely offset that), staked cryptos do the oppposite. They often appreciate while also earning interest.
Stake $ETH, for instance, and it might explode over time, increasing in value while you keep earning more $ETH passively.
Staking a cryptocurrency (whether $ETH or a crypto presale token) also supports the long-term future of that token by enhancing security and improving decentralization.
It also establishes a healthy foundation for the blockchain to grow on. That’s because by staking, users have a vested interest in seeing the ecosystem and token grow consistently.
Case in point, Ethereum’s currently experiencing a surge toward $2.8K, and the significant staked portion of its supply (30%) could have played a part in that.
And when it comes to crypto presales, where tokens sell before the project launches on exchanges, the potential yield can be truly impressive – as with $SNORT’s current 487% dynamic APY.
Speaking of Snort Token, here’s why it could be one of the best crypto to stake because of its sky-high staking APY and practical utility on Ethereum and Solana.
Snorter Token ($SNORT) – Sniff Out the Best Trades, Earn 487% APY Along the Way
Snorter Token ($SNORT) powers the Snorter Bot, the best way to find hidden deals on Solana memecoins. Often traded on ‘underground’ platforms like Telegram, some of the best Solana meme coins are easily overlooked – 10x and 100x opportunities that even seasoned traders can overlook.
But not anymore. The Snorter Bot finds those underground deals, sniffing them out to deliver the best returns possible.
Snorter Bot deploys automatic sniping and fast swaps to snag the best opportunities, while limit orders (stop loss and take profit) reduce risk from fast-moving, low cap coins.
Copy trading even lets you find and imitate other successful traders. And honeypot detection and rugpull protection let traders avoid common pitfalls that could lead to losing your investment.
The Snorter Token – $SNORT – gives access to the planned Telegram dashboard and facilitates token swaps. Importantly, it also lets you stake tokens for a 487% dynamic APY.
Yield from staked $SNORT will be disbursed over one year from the end of the presale, at the rate of 9.51 $SNORT per $ETH block.
Roughly 5.1B $SNORT tokens are currently being staked, a little over 1% of the total supply of 500B. That means now is the best time to buy and stake $SNORT, as the dynamic APY will fall the more people stake their tokens.
The Snorter Token presale has raised $650K, with tokens priced at $0.0947. Learn how to buy Snorter Token with our guide.
Will Sky-High APY Supercharge Snorter Bot Presale as $ETH Staking Increases?
Even as $ETH’s price rises, the stage is set for the best meme coins and crypto presales – like Snorter Bot – to take off. Could $SNORT 100x on the back of sky-high staking yield? It might, given enough community support.
But remember isn’t financial advice – always do your own research.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
