DeFi Daily News
Thursday, May 29, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Cryptocurrency Ethereum

Why Ethereum Faces Challenges Despite Over 34.4 Million (Nearly 30%) of Its Circulating Supply Being Staked

Dalmas Ngetich by Dalmas Ngetich
October 8, 2024
in Ethereum
0 0
0
Why Ethereum Faces Challenges Despite Over 34.4 Million (Nearly 30%) of Its Circulating Supply Being Staked
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article

In the ever-evolving world of cryptocurrencies, Ethereum has always been a central figure, holding the position as one of the leading platforms after Bitcoin. As of the latest reports, while Ethereum bulls seem to be facing challenges in gaining momentum with ETH’s price scraping above $2,400 but encountering resistance from persistent sellers, there emerges a silver lining that suggests a robust engagement from the community and investors alike. According to data from IntoTheBlock, a staggering near 30% of all circulating ETH is now staked, highlighting a significant commitment from holders to the network’s long-term vision.

A Remarkable Leap: Over 34.4 Million ETH Staked In 9 Months

Delving deeper into the numbers, as recorded on October 8, analysts at IntoTheBlock have uncovered that 28.9% of all Ethereum has been staked, marking a notable increase from the 23.8% noted in January 2024. An interesting insight reveals that out of this considerable portion, over 15.3% of ETH staked has been locked in for more than three years, signifying a deep trust in Ethereum’s future roadmap.

Related Reading: Amid the enthusiasm surrounding Ethereum’s dynamics, Dogecoin is also reportedly gearing up for a monumental surge, hinting at an exciting period ahead in the crypto space.

The pivotal transition of Ethereum from a proof-of-work to a proof-of-stake consensus mechanism in September 2022 marked a new chapter. This shift allowed the network to significantly reduce its energy footprint by eliminating the need for miners, thus welcoming validators as the new custodians of network security and integrity.

Nearly 30% of all ETH staked | Source: @intotheblock via X

Parallel insights from the Ethereum network indicate an impressive count of over 1 million network validators who have collectively staked more than 34.4 million ETH. These validators are rewarded with an APR of 3.3%, which presents a non-compounding annual yield, dependent on the total amount locked in by validators.

To participate as a validator, one must stake at least 32 ETH and manage a node, ensuring round-the-clock operation of the network. It’s important to note that the network has put in place stringent penalties for validators who engage in activities that threaten the network’s security, such as confirming invalid transactions or partaking in majority attacks.

Ethereum price trending sideways on the daily chart | Source: ETHUSDT on Binance, TradingView
Ethereum price trending sideways on the daily chart | Source: ETHUSDT on Binance, TradingView

The allure of Ethereum continues to grow as it attracts more validators amidst price fluctuations—from a high of around $4,100 in Q1 2024 to a low of $2,100 in early August—underscoring the community’s belief in Ethereum’s potential beyond immediate price action. Despite the current price pressures that see ETH straggling below the $2,800 mark, the faith in Ethereum’s strategic direction and potential remains unwavered.

Ethereum stands out not only for its significant role in the crypto market but also for being one of the very few to receive the nod for a spot ETF from the U.S. Securities and Exchange Commission, trailing only Bitcoin in this prestigious recognition.

EIP 7781: A Leap Towards Enhancing Ethereum’s Scalability

In a relentless pursuit of innovation, Ethereum’s developers are not resting on their laurels. With the implementation of the Dencun upgrade in March 2024, a fresh Ethereum Improvement Proposal (EIP) 7781 has been proposed, aiming at ramping up Ethereum’s processing capabilities. The outlined enhancements include a reduction in slot time from the current 12 seconds to 8 seconds and an augmentation of the blob capacity, which collectively promise to boost transaction throughput by more than 30%.

Should EIP 7781 come to fruition, it would significan



Source link

Tags: ChallengesCirculatingEthereumfacesMillionstakedsupply
ShareTweetShare
Previous Post

“New Online Calculator from Glia Reveals Unified Interactions Index” – Finovate

Next Post

Top stock stories to watch for on Wednesday: Predictions for market movements in the upcoming trading session

Next Post
Top stock stories to watch for on Wednesday: Predictions for market movements in the upcoming trading session

Top stock stories to watch for on Wednesday: Predictions for market movements in the upcoming trading session

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title Gate Dubai Secures Full VARA VASP Licence for Crypto Exchange Services

rewrite this title Gate Dubai Secures Full VARA VASP Licence for Crypto Exchange Services

April 29, 2025
The Future of Blockchain: An Inside Look at Cardano

The Future of Blockchain: An Inside Look at Cardano

July 18, 2024
Microsoft and ReNew Announce 437.6-MW Clean Energy Purchase Agreement

Microsoft and ReNew Announce 437.6-MW Clean Energy Purchase Agreement

August 27, 2024
rewrite this title with good SEO Viral Success Locked Amid $FAT Crypto Breakout: Is $FAT Hottest Meme Coin in April?

rewrite this title with good SEO Viral Success Locked Amid $FAT Crypto Breakout: Is $FAT Hottest Meme Coin in April?

April 17, 2025
Video: ‘Twisters’ | Breaking Down a Scene

Video: ‘Twisters’ | Breaking Down a Scene

July 19, 2024
Revisiting Jennifer’s Body: A Review of the 2009 Horror Film

Revisiting Jennifer’s Body: A Review of the 2009 Horror Film

August 27, 2024
rewrite this title Moses Itauma reaches number one in WBO ratings

rewrite this title Moses Itauma reaches number one in WBO ratings

May 29, 2025
rewrite this title Bitcoin 6,800 Support Retest To Determine Next Move – Breakout Or Breakdown Ahead?

rewrite this title Bitcoin $106,800 Support Retest To Determine Next Move – Breakout Or Breakdown Ahead?

May 29, 2025
rewrite this title SOL Strategies Files B Shelf Prospectus to Boost Solana Investment ‘Flexibility’ – Decrypt

rewrite this title SOL Strategies Files $1B Shelf Prospectus to Boost Solana Investment ‘Flexibility’ – Decrypt

May 29, 2025
rewrite this title Justin Bieber Was Very Careful With His Congratulations to Wife Hailey

rewrite this title Justin Bieber Was Very Careful With His Congratulations to Wife Hailey

May 29, 2025
rewrite this title Google confirms that Instagram battery drain you’ve noticed on your phones is real

rewrite this title Google confirms that Instagram battery drain you’ve noticed on your phones is real

May 28, 2025
rewrite this title and make it good for SEOElon Musk exits Trump administration after clash over ‘big beautiful bill’

rewrite this title and make it good for SEOElon Musk exits Trump administration after clash over ‘big beautiful bill’

May 28, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.