Staking Surge And DeFi Fluctuations The report further highlighted Staking in the network, which emerged as a significant trend within the ecosystem, with 62.2% of the circulating supply staked, signaling a high level of engagement from entities like Swirlds and Swirlds Labs. However, the decentralized finance (DeFi) landscape on Hedera witnessed fluctuations in Q2, with Total Value Locked (TVL) experiencing a decline in both USD and HBAR metrics.
Despite a 29% quarter-over-quarter (QoQ) dip in circulating market cap to $2.7 billion, HBAR managed to climb six spots from 36 to 30 among all tokens, surpassing similarly priced cryptocurrencies. Per the report, revenue also became a beacon of success for Hedera during Q2, with the network witnessing a 26% uptick in USD revenue, reaching $1.4 million.
Still, Messari asserts that initiatives like the HBAR Foundation’s DeFi TVL growth program have injected vitality into the ecosystem, driving liquidity and awareness. Liquid staking on the other hand, saw a resurgence in Q2, with Stader’s TVL increasing by 41% in HBAR terms. Related Reading: Polygon On-Chain Activity Lights Up: MATIC Reversal Incoming?
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