Ethereum

Token

April

Yield

<ul class="list-ic vertical"> 
 <li> 1 <a>Ethereum, the second biggest cryptocurrency by market cap after Bitcoin, enables users to make transactions, hold digital assets, and earn interest.&nbsp;</a> </li> 
 <li> 2 <a>Ethereum staking allows ETH owners to earn rewards by simply holding the digital assets, gaining 4-8% Annual Percentage Yield (APY).&nbsp;</a> </li> 
</ul> 
Ethereum, a home to digital money, global payments, and applications was introduced in July 2015 by Vitalik Buterin. A decentralized blockchain with smart contract functionality, powered by Ether token (ETH) allows individuals to make transactions.&nbsp; 
Surprisingly, you can also earn passive income through Ethereum staking. Let’s explore how.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-what-is-ethereum-staking-strong">What is Ethereum Staking?</h2> 
Certain digital assets including Ethereum allow staking, offering traders and investors a way to earn rewards by simply holding ETH.&nbsp; 
Staking is the process of earning rewards for holding specific cryptocurrencies for a set period of time and involves committing the digital assets to support the blockchain network and confirm transactions. The process simply refers to participating in Ethereum’s transaction validation considering the moves to a <a href="https://www.thecoinrepublic.com/2022/07/25/why-ethereum-shifting-to-proof-of-stakes-the-merge-is-a-big-deal/" target="_blank" rel="noopener noreferrer nofollow">Proof-of-Stake</a> (PoS) consensus protocol. However, an individual needs to have at least 32 ETH for staking.&nbsp; 
After knowing the concept of Ethereum staking, it’s time to explore the current state and performance of ETH staking to date.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-eth-staking-stats-strong">ETH Staking Stats</h2> 
The current price of ETH is $1637.66, a hike of 0.15% in the past 24 hours with a market cap of $196.918 Billion and trading volume of $3.246 Billion.&nbsp; 
In the past 15 hours 26, 26,383,537 ETH has been staked in accountability with 824,486 validators. In addition, the net flow, since Shanghai is 6,893,257 ETH.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
Lido, a liquidity staking solution for ETH, secured first position in terms of staked ETH and market share. The platform staked around 8,530,246 ETH with 267K validators, holding a market share of 32.3%. Focusing on the activities, the last deposit on the Lido platform was done on September 3 and the last withdrawal was carried out on August 11, earning 350K ETH.&nbsp;&nbsp; 
In the past 15 hours, the stake of ETH supply is 21.95% of which 32.36% is staked through Lido.&nbsp; 
Considering the inflows and outflows of ETH since the <a href="https://www.thecoinrepublic.com/2023/05/29/ethereums-shanghai-upgrade-leads-easy-criminal-detection/" target="_blank" rel="noopener noreferrer nofollow">Shanghai</a> fork, a total of 160 ETH were deposited on 12 April with rewards of -17,860. The flow gradually increased since the day, showing the enhanced interest of individuals towards ETH staking. On 3 September, the total deposits calculated was 24,194 with total rewards of -2,155. 
Talking about the ETH staked and Validators, in January 2021, around 2 Million ETH were deposited with an average of 68,647 validators. The count reached 26,256,067 ETH deposits with 820,502 validators on 30 August 2023. 
Looking to stake ETH for passive income, Lido and Coinbase are some powerful platforms to consider. Lido with 32.3% of the market share is ranking on the list whereas Coinbase is holding third position with a market share of 8.65%, offering 3-4% APY.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion&nbsp;</h3> 
Ethereum staking opens doors for ETH holders to earn passive income by simply staking the tokens into a pool. Lido and Coinbase are some major staking platforms holding market shares of 32.3% and 8.65%, respectively. In addition, approximately 26,383,537 ETH were staked to date with a validator count of 824,486.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Ethereum Staking: Current State and Performance of ETH Token

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 10, 2023

Potential Buyers Eye TON, XLM, XMR, and MKR as Bitcoin Nears $26,500

Bitcoin UTXOs echoing March 2020 'black swan' crash — New research

Here’s Your Guide to Handling Crypto P & L On Balance Sheets

Domini.art ($DOMI) 150% Surge in 48 Hours, Set to Become The Next 10x Sensation?

Bored Ape Chemistry Club NFT: Mutant Serums to Create History

Power Crisis Puts Texas Bitcoin Miners in Hot Water

Join our free newsletter for daily crypto updates!