Ethereum Staking Doubles In A Year, Investors Flock To Proof-Of-Stake: Report
Portfolio Pulse from Murtuza Merchant
The amount of Ethereum (CRYPTO: ETH) being staked has doubled in a year, with about 25% of all available Ethereum currently staked, up from 11% a year ago. Lido (CRYPTO: LDO) remains the dominant player in the staking arena, holding approximately 29% of the total staked Ethereum. Major platforms such as Coinbase Global Inc (NASDAQ:COIN), Kraken, and Binance (CRYPTO: BNB) saw minor declines in their staked Ethereum percentages, while OKX increased its staking activities. However, 82% of the staked Ethereum is worth less than its value from a year ago.
September 26, 2023 | 9:29 pm
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POSITIVE IMPACT
Ethereum staking has doubled in a year, indicating growing interest in the Ethereum network's proof-of-stake mechanism.
The increase in Ethereum staking indicates growing trust in the Ethereum network, which could potentially drive up the price of Ethereum in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lido remains the dominant player in the Ethereum staking arena, holding approximately 29% of the total staked Ethereum.
Lido's dominance in the Ethereum staking arena could potentially drive up the price of Lido in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Binance saw a minor decline in its staked Ethereum percentages.
The minor decline in Binance's staked Ethereum percentages could potentially have a negative impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Coinbase Global Inc saw a minor decline in its staked Ethereum percentages.
The minor decline in Coinbase's staked Ethereum percentages could potentially have a negative impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60