2023-10-10 05:03:32
According to ChatGPT, Ethereum, Tezos and Canardo are the most profitable cryptocurrencies at the moment. Staking cryptocurrencies turns out to be a multi-faceted strategy, revolving around various networks and objectives. However, one constant remains: Staking enthusiasts are rewarded on a recurring basis, in proportion to their stakes on the network or application.
This reward arises from the conversion of investors’ liquidity, who lock up their tokens according to rules pre-established by the protocol they support. In exchange, they gain the privilege of actively participating in the system, whether as a validator for a proof-of-stake (PoS) consensus, participating in protocol governance, or providing liquidity to trading platforms. decentralized exchange, lending services, or collateralized assets. It should also be noted that this liquidity generates costs, giving rise to to the concept of “passive income”.
Note that text generators powered by artificial intelligence, such as ChatGPT developed by OpenAI, are proving to be valuable allies for quickly assimilate complex information. This is useful for identifying financial opportunities or for distinguishing the most promising projects from a multitude of choices.
In this context, on October 7, Finbold surveyed ChatGPT-4 for its cryptocurrency recommendations. Among its choices, artificial intelligence highlighted Ethereum (ETH), Tezos (XTZ), and Cardano (ADA)designating them as the cryptos most favored by holders to generate regular rewards.
Ethereum: a true pillar of the blockchain
Ethereum, an emblematic figure in the world of cryptocurrencies, does not fail to attract attention. This blockchain adopts a consensus approach Proof of Stake (PoS). Its transition to Ethereum 2.0 paved the way for cryptocurrency staking according to ChatGPT. ETH holders thus have the possibility of contribute to network security and governance by betting their tokens, thus obtaining rewards in return.
According to data from StakingRewards.com, betting on ETH to become an Ethereum validator provides a annual return of approximately 3.71% of the amount bet. Additionally, the site calculates a “real reward rate”, adjusted to take into account the long-term inflation of the token, which stands at 3.34% per year for Ethereum.
At the time of publication, a staggering $44.57 billion was committed to staking on Ethereum. Which equates to 22.15% of the ETH market cap, amounting to $200.74 billion. Additionally, over the past 24 hours, the volume of tokens committed to the network has seen a remarkable increase of nearly 14%.
Tezos staking: ChatGPT reveals the constantly evolving yield of these cryptocurrencies
Tezos, a full-fledged blockchain platform, is also part of the staking race. This is thanks to its PoS consensus mechanism. XTZ holders can stake their tokens and actively participate in network governance, while reaping rewards for their efforts.
When it comes to yield, currently, investors who stake XTZ can expect a annual rate of approximately 5.18% on their stake. However, a more in-depth analysis by StakingRewards.com. The study reveals a much more modest “real reward rate.” That is to say a passive income of around 0.92% following taking into account symbolic inflation.
It is important to highlight that over the last 24 hours, Tezos holders have reduced their tokens by 17.17%. Despite a market cap of $644.87 million at the time of publication, an impressive 71.79% of this sum is committed to staked XTZ. Which makes a total of $476.16 million.
Staking on Cardano: an overview of current rewards and trends
Cardano, another popular cryptocurrency, also relies on PoS consensus to operate. ADA holders have the possibility to participate in the validation process and creating blocks by staking their tokens on the Cardano network.
According to StakingRewards.com data collected by Finbold, the Cardano network currently rewards its participants with almost 3% per year. However, this rate sees a significant decline when adjusted for ADA token inflation. It then stands at a modest 0.39% in terms of long-term reward.
With a estimated market capitalization of $6.08 billion for ADA, the players involved in Cardano hold a significant share. The latter represents approximately 63.32% of the overall market capitalization of its native cryptocurrency.
At the time of writing, the staking trend appears to be experiencing a reduction similar to that of Tezos. There decrease in engagement amounts to almost 12.9%. This exit trend might reflect various factors. Including market developments or adjustments in the investment strategies of Cardano holders. Careful observation of these movements is essential to understand the evolution of participation in staking. But also its impact on the Cardano ecosystem.
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