Hi. Currently there are 20 billion (62.5%) of ADA in staking, there would be 12 billion out of staking. My questions are:
Where are they and who can be the holders of those 12 B’s of ADA. They belong to some institution. If they belong to private people, for what reasons do they not want to make those tokens profitable at this time?
To what extent can staking influence the price of ADA in the future. It may be the case that most of us ADA holders do not move our ADA from staking because it is very profitable, therefore there is very little ADA in circulation and that exerts great upward pressure on the price of ADA in the future?
I am a bit puzzled on this matter, someone would be kind enough to give me their opinions on it.
Thanks and best regards to the entire community.
Hey @josma
Thats a really good question and im pretty sure nobody is able to give you an correct answer because nobody knows for sure. Anyway if you look how much ada is still on legacy byron wallets you may get an idea how much ada are already lost due lost seed/forgotten or whatever reason. I think thats the biggest of the missing part but there are also other reasons like i know a few people which dont want to stake due tax reasons.
Cheers
Fabian
OK. Thank you Zyroxa for your opinion and information.
I don’t know how to see the legacy Byron wallets, could you help me to do that check and observe that information?
Thanks and best regards.
every wallet which doesnt start with addr1 should be a byron wallet. (not sure about exchanges)
OK thank you very much
Hello Fabian,
Can you help me to understand why someone wouldn’t want to stake ADA due to “tax reasons.” My understanding is that you don’t need to report earned ADA as taxable income, unless you convert it to USD, then you would just pay the appropriate capital gains tax. So o as long as it’s just growing in your Daedalus wallet, nothing to report? Thanks so much:)