AVAX Outperforms The Global Crypto Market, Increases Its Staking Rate to 50%

AVAX was last seen exchanging hands at a 17% higher value as compared to January 2022, a feat that is worth noting as others recorded a downfall. The Avalanche network has a staking rate of more than 50%, with the majority of stakers being in the United States and validating the network using Amazon Cloud Services. The price of the asset surpasses the market in general, having grown more than 17 percent since January, thanks to a well-developed staking system and active participation from the AVAX community.

Avalanche Staking Rate Rises

AVAX is now being traded at $69.22 at the time of writing this article. According to AVAX coin price prediction, it will touch the mark of $127 by the end of this year. Call it a more optimistic prediction, but it is achievable provided all the factors work in favor of the network.

The trading value is an indication of how well Avalanche is performing in the crypto market. 

Anyone who wishes to get on board as an AVAX validator will be required to have at least 2,000 AVAX in their digital wallet. The value approximately converts to $142,000.

However, the requirement is more lenient for those interested in entering the ecosystem as a delegator. The entry would cost 25 AVAX, something that many have called a more modest requirement.

One will have to stake funds for a minimum time of 2 weeks and a maximum time of 1 year. It similarly applies to delegation requirements with an addition of 2% as a delegation fee.

Wu Blockchain confirmed the news by publishing a tweet on March 13, 2022. It stated that the current staking rate had reached 50.65%.

The network also revealed where the majority of validators were located. The United States of America came out as a major host for validators, with the figure coming to 50.3%. It is followed by Germany, where 25% of the validators reside.

Amazon Cloud Services is a major player when it comes to powering the validator nodes. It rules with 64.5%, while Google – surprisingly – contributes less than 5%. Some more players who have marked their presence in this market are Heinzner Onli, Digital Ocean, and Contabo.

Validators are facing danger, though. It is the inability to invert the transaction, meaning that there is no way to modify the initial parameters of each node. Users have reported the inability to remove their stake too early or modify the reward address.