bitcoin
Bitcoin (BTC) $ 98,578.41 0.43%
ethereum
Ethereum (ETH) $ 3,359.34 0.39%
tether
Tether (USDT) $ 1.00 0.03%
solana
Solana (SOL) $ 256.50 1.10%
bnb
BNB (BNB) $ 663.79 6.08%
xrp
XRP (XRP) $ 1.55 6.33%
dogecoin
Dogecoin (DOGE) $ 0.470116 19.06%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 1.09 20.27%
staked-ether
Lido Staked Ether (STETH) $ 3,357.87 0.48%
Blog

Ethereum Breaks Records: January 2024 Staking Data Unveils Surge to 30 Million ETH

Ethereum’s Shapella hard fork was a controversial upgrade that ignited fears of selling pressure. But the latest data tells a different story.

In January 2024, Intotheblock’s data revealed the highest Ethereum staking rate, reaching approximately 30 million ETH staked, accompanied by a staking participation rate of over 24%. This milestone suggested a preference for staking over promptly selling off tokens.

  • Ethereum locked-in staking keeps surging, while only 11% of the token supply is currently stored on centralized exchanges.
  • Analyzing the latest figures, it’s evident that the much-talked-about Ethereum upgrade, Shapella – enabling stakers to withdraw their coins for the first time since December 2020 – did not lead to the widespread unstaking as initially predicted.
  • Even with the introduction of the new feature enabling stakers to retrieve their tokens, the current staked amount stands at 29.13 million ETH, accounting for 24.2% of the total supply.
  • The Ethereum staking rate is a metric composed of two components – rewards for consensus layer duties and priority transaction fees.
  • The rewards are guided by Ethereum’s transparent “monetary policy,” adapting based on the total staked ETH, prioritizing security. The transaction fees, on the other hand, are influenced by the demand on the Ethereum network, typically rising when new information or opportunities emerge.
  • As such, expanding the user base and use cases for Ethereum’s staking rate is crucial for enhancing network security, attracting new investments in ether, and establishing connections between digital assets and traditional finance.

The post Ethereum Breaks Records: January 2024 Staking Data Unveils Surge to 30 Million ETH appeared first on CryptoPotato.

Related Posts
China-communist-party-with-a-new-book-on-cryptocurrencies
Cryptocurrency News Feeds

China Communist Party With A New Book On Cryptocurrencies

An education institution in China, training officials from the country’s Communist Party, has published yet another book on cryptocurrencies. The authors include the former Vice President of the People’s Bank of China (PBoC), as well as other formerly high-ranked officials. China Continues Its Efforts in the Industry According to a recent report from the local…
Coinbase-stock-remains-unfazed-despite-citi’s-bullish-calls
Cryptocurrency News Feeds

Coinbase Stock Remains Unfazed Despite Citi’s Bullish Calls

Coinbase stock [COIN] has largely mimicked the price action of the broader cryptocurrency market recently. But the powerful rally may have come to a halt. The shares took a beating and depreciated by 1.45% at $320.82 on Tuesday afternoon trading. This came hours after the multinational investment bank Citi provided a very bullish price target…
Defhold-review:-a-solution-to-defi’s-inflation
Cryptocurrency News Feeds

DefHold Review: A Solution to DeFi’s Inflation

[Sponsored] Despite the rapid growth of the DeFi sector, inflation resulting from infinite mining of new tokens and market pumps and dumps is still a significant bottleneck in its widespread adoption. These are exactly the challenges that DefHold aims to tackle with its non-inflationary DeFi ecosystem. Through DefHold, crypto investors are able to generate yields…
Loading data ...
Comparison
View chart compare
View table compare
Back To Top