25% of ETH Supply Staked
In a surprising development, the percentage of Ethereum (ETH) supply being staked has surpassed 25%. Lido Finance shared a screenshot of a Dune Analytics dashboard showing this milestone. Currently, 25.08% of the total ETH supply is staked, with 924,023 validators active on the network.
Interestingly, net flows have defied expectations and remained positive after the Shanghai upgrade, which allowed stakers to withdraw their ETH. Instead of mass withdrawals, more ETH has flowed into staking contracts. Since the upgrade, over 10 million ETH have been staked, bringing the total to over 30.14 million ETH.
Lido Leads Ethereum Staking
Lido Finance dominates the Ethereum staking market, accounting for 31.52% of all staked ETH. Coinbase follows with 14.4% of the total stake. Together, Lido and Coinbase control 45% of the market. Binance holds 4.3% of all staked ETH.
Regarding rewards, Lido stakers have earned over 467,000 ETH, while Coinbase and Binance stakers have earned 259,000 ETH and 139,000 ETH respectively.
Ethereum Price Turns Bullish
In addition to the increase in staking activity, the price of Ethereum has turned bullish. It has surged by 2.22% in the last day and gained 7% in the last week, breaking through the resistance at $2,400.
Hot Take: Ethereum Staking Reaches All-Time High as Interest Grows
Ethereum staking has reached a new all-time high as more users lock their ETH into staking contracts. The percentage of staked ETH has crossed the 25% mark, indicating growing interest in the rewards and benefits of staking. Lido Finance leads the way as the largest Ethereum staking platform, followed by Coinbase and Binance.
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