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Home»ETHEREUM NEWS»Ethereum staking has reached a historic milestone as the ETH price barrel surpassed $2,400.
ETHEREUM NEWS

Ethereum staking has reached a historic milestone as the ETH price barrel surpassed $2,400.

By Crypto FlexsFebruary 9, 20243 Mins Read
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Ethereum staking has reached a historic milestone as the ETH price barrel surpassed ,400.
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Despite the poor performance of ETH price over the past year, Ethereum staking is increasing. Liquid staking protocols such as Lido Finance have seen the amount of ETH being staked continue to grow, and as a result of the continued interest in ETH staking, the total supply locked to date has reached a new all-time high. .

Currently, 25% of total ETH is staked.

In an interesting event, the total percentage of ETH supply staked exceeded 25%. This was revealed by Lido Finance, who shared a screenshot of their Dune Analytics dashboard showing that the 25% mark has been reached.

Looking at the Dune Analytics dashboard, we can see that this number has continued to increase since then, with 25.08% of total ETH supply currently staked. This figure is fueled by a total of 924,023 Ethereum validators currently running on the network.

Net flows also missed expectations and were positive following the Shanghai upgrade. This upgrade finally allows stakers to withdraw their staked ETH. However, rather than large-scale withdrawals occurring, more ETH flowed into the staking contract.

According to data from Dune, more than 10 million ETH have flowed into staking contracts since the Shanghai upgrade. The total ETH staked to date is over 30.14 million, and this number appears to be growing rapidly.

Lido dominates Ethereum Stake.

Of the total 30.14 million ETH staked to date, a large portion is currently being staked through the Lido platform. This is because the Dune Analytics platform accounts for 31.52% of all staked ETH. This solidifies Lido’s position as the largest Ethereum staking platform, with over 297,000 validators on the protocol.

Coinbase follows Lido, accounting for 14.4% of all ETH staked by over 136,000 validators. This means that Coinbase and Lido Finance are currently ahead of the rest, controlling 45% of the staked ETH market.

Another cryptocurrency exchange, Binance, ranked third with 4.3% of total ETH staked and 41,000 verifications. Kiln, Figment, and Rocket Pool rank 4th, 5th, and 6th respectively, accounting for 2.8% to 3.3% of total staked ETH.

Looking at the rewards so far, Ethereum stakers have earned quite a bit since the initiative began. The total ETH earned by Lido stakers so far is over 467,000 ETH, while Coinbase earned 259,000 ETH and Binance stakers earned 139,000 ETH.

During this period, the price of ETH also showed strength and surpassed the resistance level of $2,400. It is up 2.22% over the past day and up 7% over the past week, according to data from CoinMarketCap.

ETH price at $2,400 | Source: ETHUSD on Tradingview.com

Featured image from Dall.E, chart from Tradingview.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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