The State of ATOM Staking: September 2022 Report
September has been a monumental month for ATOM, as the token has garnered tremendous hype across the Cosmos community and beyond. With the Cosmoverse conference currently ongoing and hype building for ATOM 2.0, it’s certainly an exciting time.
Continue reading below for the most up-to-date stats and analysis on ATOM staking across the last 30 days, giving you a birds-eye view of key activities on Cosmos Hub.
Below are key data points surrounding general ATOM token statistics:
- Total Market Cap: $4.07B+
- 24-Hr Trading Volume: $309M+
- Unique Wallet Addresses: 1.34M+
- Circulating Supply: 292M+
Cosmos Hub Overview
The information below highlights key data points surrounding IBC activity on Cosmos Hub over the past month:
- IBC Volume (30D): $608M+
- IBC Transfers (30D): 2.4M+
- Active Zones (30D): 47
- Block Height: 12.2M
Staking Market Cap
Currently, Cosmos Hub (ATOM) has climbed to the 7th ranking in comparison to other cryptocurrency assets by staking market cap, rising from 9th position in August 2022 — its total staking market cap stands at $3B+.
Staking Ratio and Stats
ATOM’s staking ratio has risen significantly since last month, up over 1.25% and now sitting at 66.4%. Over the last few months, the trend has been upwards as we’re continuing to see more adoption for and incentive to stake ATOM on Cosmos Hub, greatly contributing to the network’s security.
At the time of writing, 205,801,764 ATOM tokens are bonded relative to its total supply of 309,946,964.
The number of unique ATOM delegates signifies the amount of adoption for ATOM staking on Cosmos Hub. Presently, the number of ATOM delegates equals 524,191, rising an impressive 5.3%+ in the last month alone and shining a light on greater interest for staking ATOM.
ATOM Liquid Staking Ecosystem & Stats
pSTAKE, StaFi, and Stride are the only 3 protocols offering ATOM liquid staking today. StaFi’s rATOM token has a TVL of $583K and Stride’s stATOM token has a current TVL of ~$4.8M. In early September, Stride launched their ATOM liquid staking implementation within the Cosmos ecosystem.
pSTAKE’s stkATOM solution currently has a TVL of ~$1.4M. Our team is currently working on building the infrastructure for stkATOM’s launch on the Persistence Core-1 Chain.
Liquid staking is believed to enhance the overall state of ATOM staking, taking it to brand new heights and elevating its value proposition.
Cosmos Hub currently has a total of 441 validators, where 175 are active, helping provide security to the network. Running a validator node on the chain provides an average APR of ~19%.
The top 24 validators now cumulatively hold over 67.1% of all staked ATOM (governance consensus threshold), which is greater than last month (where 23 validators met this criteria).
The Nakamoto Coefficient denotes the concentration of stake across a blockchain’s validator set, highlighting the lowest number of validators that need to join forces to maliciously impact the chain.
A larger coefficient value (relative to the total number of active validators) implies that staked tokens are more equally distributed across network validators, meaning the chain becomes much more decentralized and secure.
ATOM’s Nakamoto Coefficient still stands at 7, remaining unchanged from the last few months across its 175 active validators.
As always, we want to thank the community for reviewing our report for this month. Every month, we aim to provide you with the best and highest quality information surrounding everything related to ATOM staking so that you can better understand the state of Cosmos Hub and its ecosystem.
Don’t forget to subscribe to our blog and social media channels to keep up-to-date on ATOM staking and what pSTAKE is bringing to the table with stkATOM.
pSTAKE is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi.
At present, pSTAKE supports Binance Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX). pSTAKE will soon be launching stkATOM on the native Persistence Core-1 Chain.
Developed by Persistence
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.
Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.
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