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Golem Network begins ETH staking tests to bolster its decentralized computing platform and support the Ethereum ecosystem. (Read More)
MetaMask said that 99% of ETH holders do not have the required 32 ETH to participate in Ethereum staking.
In recent months, the Ethereum staking landscape has witnessed significant transformations, prompting a shift in investor preferences and reshaping the sector’s dynamics. According to on-chain data researcher and strategist at 21Shares, Tom Wan, key metrics indicate a notable change in the approach towards Ethereum staking, with restaking gaining prominence as a preferred method. Ethereum Restaking Landscape Wan’s observations, shared on the social media platform X (formerly Twitter), highlight a steady increase in ETH staking deposits from restaking, rising from 10% to 60% since 2024. Restaking can be accomplished in two primary ways: through ETH natively restaked or by utilizing a liquid staking token (LST). By staking their ETH, users secure additional applications known as Actively Validated Services (AVS), which yield additional staking rewards. A significant player in the staking landscape is EigenLayer, which has emerged as the second-largest decentralized finance (DeFi) protocol on the Ethereum network. Related Reading: Are The Odds In Bitcoin Bulls Favor? These Analysts Forecast BTCs Future EigenLayer has achieved a significant milestone with the release of EigenDA, its data availability Actively Validated Service (AVS), on the mainnet. According to a research report by Kairos, this launch marks the beginning of a new era in restaking, where liquid restaking tokens (LRTs) will become the dominant way for restakers to do business. Currently, 73% of all deposits on EigenLayer are made through liquid restaking tokens. The report highlights that the growth rate of LRT deposits has been significant, increasing by over 13,800% in less than four months, from approximately $71.74 million on December 1, 2023, to $10 billion on April 9, 2024, demonstrating the growing confidence in EigenLayer’s approach to restaking and contributing to the shifting tides in Ethereums staking landscape. According to Wan, the rise of liquid restaking protocols has also contributed to a decline in the dominance of Lido (LDO), a staking service solution for Solana (SOL), Ethereum, and Terra (LUNC). On the other hand, Etherfi has emerged as the second-largest stETH withdrawer, with 108,000 stETH withdrawn through the first quarter of 2024. This trend exemplifies the increasing popularity of liquid restaking protocols, allowing stakers to withdraw and actively utilize their staked assets while still earning rewards. Ether.fi Set To Surpass Binance In ETH Staking Data provided by Wan also shows a decline in the dominance of centralized exchanges (CEXs) in ETH staking. Since 2024, CEXs have seen their share of staking decline from 29.7% to 25.8%, a significant drop of 3.7%. As a result, the decentralized staking provider Kiln Finance has surpassed Binance and become the third-largest entity in terms of ETH staking. With Ether.fi poised to follow suit, it is expected to surpass Binance’s position shortly, according to the researcher. Related Reading: Crypto Experts Predict Massive Price Surge For XRP Price, Is $20 Possible? In short, these developments signify a paradigm shift in the Ethereum staking landscape, with re-staking methodologies gaining traction and decentralized protocols like EigenLayer and Ether.fi challenging the dominance of established players. As of this writing, ETHs price stands at $3,500. It has been exhibiting a sideways trading pattern over the past 24 hours, remaining relatively stable compared to yesterday. Featured image from Shutterstock, chart from TradingView.com
Ether.fi launches Season 2 StakeRank, offering boosted loyalty points for staking, with a 5% ETHFI token supply allocation and new conditions for participants. (Read More)
Ethereum stakers will be able to withdraw their ETH in part or in full.
In the past 24 hours, there’s been a net inflow of 24,001 ETH into the staking program.
Ethereum’s largest pool Lido Finance is contemplating whether to sell or stake the $30 million in Ether [ETH] from its treasury. On February 14, Steakhouse Financial, the DAO’s financial wing, issued a proposal with four possibilities on how it should run its treasury. One of these involved staking some or all of its Ethereum as Lido Staked […]
Cake DeFi, the most dynamically growing fintech firm, which is based in Singapore and provides seamless DeFi access, has launched Ethereum (ETH/USD) staking, Invezz learned from a press release. With this, Cake is offering a tradable token, which users can sell in the open market, ensuring additional access to liquidity.
Generating more ETH in rewardsAfter completing the Ethereum Merge, the Ethereum Mainnet transitioned to proof-of-stake. The main chain appropriated the “Beacon Chain” as a result. The main chain requires validators to stake their crypto assets into a deposit contract, which is long-term.
ETH can be locked on the blockchain, and investors get the chance to validate transactions and generate rewards in ETH. The Ethereum Mainnet does not support unstaking at the moment, and investors who want to unstake ETH will have to wait for the Shanghai upgrade around a year from now.
Cake DeFi CEO and Co-Founder Dr. Julian Hosp said:
Ether staking is the most recent addition to our beloved staking service. We chose to host our own nodes in Singapore. Ethereum nodes are currently concentrated in Europe and North America. Hosting them will promote decentralization and improve the confidence of developers and investors in the region. Many platforms and exchanges won’t offer ETH unstaking until the Shanghai upgrade, but the open market will help us provide liquidity to our ETH stakers.
5% annual yieldWith Cake’s new service, traders will get returns of around 5% a year. The platform will also auto-compound ETH staking every 12 hours to generate higher returns in comparison to non-compounded staking.
What’s more, people staking ETH on Cake DeFi will not have to wait for the Shanghai upgrade to unstake. They will be able to do so by trading a token on the open market.
The post Cake DeFi adds access to liquidity with ETH staking appeared first on Invezz.
Chainalysis suggests ETH could decouple from other cryptocurrencies post Merge as its staking rewards could make it similar to bonds or commodities.
SEBA Bank executive Mathias Schütz believes that institutions can also play a role in securing the Ethereum network by staking Ether.
Ethereum is well on its way to the Merge as more milestones are met. The move to proof of stake will no doubt be a game-changer for the blockchain. So As the day for the merge draws closer, users of the network have been upping their activity in recent times. One of the places where Ethereum has recorded an uptick has been the staking queue which is now nearing its previous all-time high. Ethereum Staking Queue Crosses 300,000 The Ethereum staking queue is a good indicator of how users of the network are looking at it. When this is low, investors may be more way and not want to stake their coins on the network. However, when this number begins to go up, it signals a number of things for Ethereum, among them, being that users are looking more positively at it. Related Reading | TA: Bitcoin Holds Uptrend Support, What Could Trigger Sharp Decline This queue has been going up in recent times and as of 17th March, has almost reached its previous high. It had previously touched a new high above 330K in June of 2021 when the bull rally had been in full bloom. But the subsequent market downtrend had seen this number come down with it going into the bear trend. Only to begin another recovery in August of the same year. ETH price recovers above $3,900 | Source: ETHUSD on TradingView.com As for 2022, the number had been steadily growing but hadn’t seen any significant boost. This boost came about two weeks into March when the number of wallets on the queue crossed 300K. It is the sharpest increase ever recorded by the Balance Validators Status. What Does This Mean? For a network like Ethereum, beating and setting new records aren’t a new thing. But like with any other thing, such high interest will definitely have an impact on the network and the price. In this case, the number of wallets that are now suitable to stake on the network is higher and are waiting to be activated to do so. When such a large amount of wallets are given the green light to start staking, it will take a good chunk of coins out of current circulation. Related Reading | TA: Ethereum Consolidates Near $2,800, Why ETH Could Rally Again This is because it takes 32 ETH for a wallet to be eligible to become a validator on the network. This means that when these wallets on the queue are activated, about 1 million ETH coins will be locked away for at least three months, which is the minimum staking duration for Ethereum. A look at past charts shows that times like this have coincided with the increase in price for ETH. However, there has been one deviation which was during the November rally where ETH hit a new high above $4,000. Nevertheless, with such volumes of ETH being temporarily taken out of circulation, it most likely will positively affect the value of the cryptocurrency, pushing the value towards previous highs. Featured image from MARCA, chart from TradingView.com
Staking is the process of locking an amount of cryptocurrency for a particular time period to contribute to blockchain technology
The post has appeared first on thenewscrypto.com
According to the latest Coingecko report, during the second quarter (Q2) of 2023, the U.S. dollar value of BTC grew by nearly 7% while that of the entire crypto market capitalization only went up by 0.14%. In contrast, BTC’s average daily trading volume during the period fell by 58.7% from the $33.4 billion seen in [...]
The post Blackrock Bitcoin ETF Filing Announcement Propelled BTC in Q2 — Study appeared first on Crypto Breaking News.
Binance announces support for Starknet (STRK) distribution to ETH Staking users, with the snapshot taken on Sept 15, 2022. Distribution completion is expected within 30 days from Feb 20, 2024. (Read More)
Q2 2023 saw a slight 0.14% increase in the crypto market, with Bitcoin (BTC) and Ethereum (ETH) rising by 6.9% and 6.0% respectively. (Read More)
Ethereum’s 2.0 staking deposits vs. withdrawals are not so symmetric now. The number of deposits is taking up the volume
Rocket Pool native token RPL has recorded increased bullish activity and momentum in what seems to be an interesting turn of events stemming from the just concluded Shapella update and launch. While the Ethereum Shapella launch was much about allowing validators to withdraw staked ETH rewards, crypto enthusiasts and the blockchain community felt some uneasiness [...]
The post Rocket Pool (RPL) On 4-Day Bullish Streak After Shapella, Can It Make A Fifth? appeared first on Crypto Breaking News.
The two exchanges have withdrawn almost 200,000 ETH together.
InfStones is offering a new Ethereum validator service that allows users to launch validator nodes for staking with just a few clicks. The platform is targeting both users and institutional investors by providing a simpler way to stake their tokens, with the added benefit of being able to stake less than 32 ETH after the Shappella upgrade. However, there has been a slight decline in Ethereum staking deposits due to regulatory pressure and the upcoming upgrade. (Read More)
The Ethereum Shapella upgrade has enabled ETH staking withdrawals.
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