ethereum-geth-besu-client-decentralization/” rel=”nofollow”>ethereum Stake has been increasing despite the poor performance of the eth price over the past year. Liquid staking protocols such as Lido Finance have continued to see the amount of eth staked increase, and as a result of this continued interest in staking eth, the total amount of supply that has been locked so far has reached a new all-time high. .
25% of all eth is now staked
In an interesting turn of events, the total percentage of eth supply being staked has surpassed the 25% mark. This was made public by Lido Finance, who shared a screenshot of a Dune Analytics dashboard showing that it has reached the 25% mark.
Looking at the Dune Analytics dashboard, sample This figure continues to rise after this, with 25.08% of the total eth supply now up for grabs. This figure is facilitated by a total of 924,023 ethereum validators currently running on the network.
Net flows have also been against expectations and have been positive since Shanghai's improvement. This update allowed bettors to finally withdraw their staked eth. But instead of withdrawals occurring en masse, more eth has been invested in staking contracts.
Dune data shows that over 10 million eth have entered staking contracts since the Shanghai upgrade. Currently, there are more than 30.14 million ethereum–eth-staking-rewards/” rel=”nofollow”>eth in total wagered so far, and this figure appears to be increasing rapidly.
Lido dominates ethereum staking
Of the total 30.14 million eth that have been staked so far, a large percentage is currently being staked through the Lido platform, as the Dune Analytics platform accounts for 31.52% of all eth staked. This cements Lido's position as the largest ethereum staking platform, with over 297,000 validators on the protocol.
Coinbase follows Lido and represents 14.4% of the ethereum–eth-staking-rewards/” rel=”nofollow”>total eth staked with more than 136,000 validators. This means that together, Coinbase and Lido Finance currently control 45% of the eth market share, giving them an advantage over others.
Binance, another crypto exchange, is in third place, with 4.3% of all eth staked and 41,000 validations. Kiln, Figment, and Rocket Pool control positions 4, 5, and 6, respectively, controlling between 2.8% and 3.3% of the total staked eth.
As for the rewards so far, ethereum stakers have earned quite a bit since the initiative began. The total eth earned so far by Lido stakers has surpassed 467,000 eth, with 259,000 eth earned on Coinbase and 139,000 eth earned by Binance stakers.
eth price also turned bullish during this time, breaking above the $2,400 resistance. It is up 2.22% in the last day, with gains of 7% in the last week, according to data from CoinMarketCap.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2024/02/Ethereum-Stake-Reaches-Historic-Milestone-as-ETH-Price-Surpasses-2400" alt="Tradingview.com ethereum Price Chart (eth Stake)” width=”3286″ height=”1530″ loading=”lazy”/>
eth price at $2,400 | Source: ETHUSD on Tradingview.com
Featured image of Dall.E, chart from Tradingview.com
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