Crypto

May 24, 2023

Ethereum Staking Demand Keeps Growing

Ethereum is experiencing record levels of staking following Ethereum’s transition to Proof-of-Stake (PoS) and the recent “Shapella” network upgrade. 🚀

The last update facilitated withdrawals of staked $ETH and rewards, leading to a surge in demand for new validators. Despite initial fears of a withdrawal rush impacting the ETH price, the increasing queue of validators eager to join the network suggests that demand for Ethereum staking is holding steady.

Source: CoinMetrics – Click to enlarge.

The active validator count is at a record high of nearly 584,000.

Adding to the excitement is the growing demand for Liquid Staking Tokens (LSTs) in the DeFi space. These tokens represent staked assets, offering liquidity to the PoS model and enabling staked assets to participate in DeFi applications while contributing to network security. 💥

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