Staking Market Cools as Ethereum, Solana See Declines in Staked Value

Staking markets cooled over the week as total staked values and reward flows fell across most major networks, signaling softer risk appetite for on‑chain yield strategies. Ethereum remained the largest staking market but saw staked value decline 4.64% to $87.84B, with Solana (-3.59% to $35.47B), Hyperliquid (-3.40% to $17.28B), BNB Chain (-3.01% to $15.83B) and Tron (-1.47% to $14.50B) also slipping. Bittensor bucked the trend, posting a 2.68% increase to $1.84B and rising estimated rewards. Staking ratios were high for Sui, Bittensor and Solana, while Ethereum’s staking ratio (32.29%) remained lower despite its size. Real reward rates and estimated annual rewards broadly weakened (BNB real reward 6.01% but annual rewards -10%; ETH annual rewards -8.04%), suggesting reduced yield attraction and potential downward pressure on demand for staking-based strategies. The snapshot implies a more defensive posture for on‑chain yield trades, with investors likely to favor networks that can sustain real yield and participation without aggressive incentive expansion.