Previous proof of stake cryptocurrencies have typically struggled to get above 30% participation during the 'exciting' days of the coin, and it only falls off f

Previous proof of stake cryptocurrencies have typically struggled to get above 30% participation during the 'exciting' days of the coin, and it only falls off from there. Exchanges will often have anywhere from 15% to 40% of all of the coins in a token, which means that if exchanges choose to participate in staking, they will very likely have the majority among the staking participants.