Ethereum staking has continued to rise this year despite the emergence of spot exchange-traded funds (ETFs) and relative price weakness for digital assets.
On October 8, blockchain analysis firm IntoTheBlock reported that Ethereum staking has increased by 5.1% this year, with 28.89% of the total ETH supply currently staked, up from 23.8% in January.
According to data from Dune Analytics, approximately 37.79 million ETH is currently staked, worth approximately $84.8 billion, with over 1 million validators contributing. IntoTheBlock also reports that 15.3% of this staked ETH has been locked for at least three years, reflecting strong investor confidence in Ethereum’s long-term potential.
Ethereum staking (Source: IntoTheBlock)
Despite the rise in staked ETH, Ethereum’s price growth has been modest compared to competitors like Solana. Ethereum’s price has risen about 6% since the beginning of the year to $2,447, while Solana has soared 41% in the same period.
Profitability of staking
Staking, which involves locking up ETH to validate transactions in exchange for rewards, is at the heart of Ethereum’s proof-of-stake (PoS) system. This process attracts both institutional and retail investors, offering them the opportunity to earn yield from their staked ETH.
According to data from Dune Analytics, around 60% of stakers are profitable despite asset price challenges. The realized price of staked ETH is approximately $2,265, while the current market price is $2,432, which corresponds to a 7% return for stakeholders.
Profitability of Ethereum Staking (Source: Dune Analytics)
Lido, the leading liquidity staking platform, holds the largest share of Ethereum staking, with 9.7 million ETH staked, worth approximately $24 billion at current prices.
Among centralized staking providers, Coinbase ranks first with 11% of total shares and holds over 4 million ETH. Binance, which offers lower fees, manages 4.75%, or 1.6 million ETH. Other platforms such as Ether.fi, Kiln, Figment, and Kraken also hold significant market share. Overall, centralized exchanges account for 18.5% of the Ethereum staking market.
Ethereum staking (Source: Dune Analytics)
Recently, Ethereum co-founder Vitalik Buterin proposed lowering the minimum ETH requirements for solo staking. If implemented, this move could attract more participants and further contribute to growth.
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