

Staked-ETH Surges 7 Million In Less Than 4 Months


A sharp increase in the volume of ETH staked for network validation, over recent months, has pushed the proportion of Ethereum-staked beyond 22% of circulating supply.
According to data from Dune Analytics, more than 22% of Ethereum's supply is now staked on the network, with the precise number of ETH just shy of the 26.3 million mark.
As a result of these rising figures, the number of validators has also increased to exceed 821,600, at time of writing.

The volume of ETH staked on the network has been increasing since the option became available in late 2020, and the Ethereum network’s Shanghai upgrade which allowed the withdrawal of staked ETH, did not reverse this trend, despite concerns from some members of the ecosystem at the time.

According to Dune’s dashboard, the amount of ETH staked, and therefore the number of network validators, experienced an aggressive period of growth beginning in early May. Since May 5th 2023, more than 7 million ETH has been additionally staked, resulting in a validator increase of nearly 230,000, rendering Ethereum evermore decentralized.
ETH Staking Platforms - Lido Still The King
The number of platforms designed to provide access to Ethereum staking yield, without the friction and risk involved in setting up and running one’s own validator, is increasing alongside the total volume of staked ETH.
However, the distribution of ETH across such platforms is altogether less decentralized than the Ethereum network itself.

Lido Finance still holds top spot in the ETH-staking landscape, with some 32.4% market share, equivalent to more than 8.5 million ETH, according to data from Dune Analytics. Its closest competitor, in Coinbase, holds just 8.7% market share, or around 2.3 million ETH.
The concentration of staked-ETH within Lido Finance and its validators has raised concerns regarding the Ethereum network’s decentralization in the past. This culminated in a Lido Finance governance proposal over whether the protocol should consider limiting its inbound ETH - This was voted down almost unanimously by the LDO community.

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Related News


Lucidao Unveils Bold Rebrand: Pioneering the Tokenization of Real-World Assets

The rebranding underscores Lucidao's commitment to bridging real-world assets and blockchain technology.
Decentralized Finance (DeFi) platform Lucidao has recently unveiled its new look alongside a redefined mission. With the launch of a revamped website, Lucidao is taking a significant step towards the tokenization of Real-World Assets (RWAs), strategically positioning itself as a leading force in the intersection of blockchain technology and Real-World Assets.
The core of Lucidao's transformation lies in a strategic shift – a commitment to making the tokenization of RWAs its primary mission. This goes beyond a mere rebrand; it signifies a pivotal moment for the platform, where every innovation and product creation revolves around the tokenization and digitization of real-world assets.

At the forefront of Lucidao's success is Altr, a decentralized application (dApp) that set the stage for bringing physical luxury collectibles onto the blockchain. This initiative, born out of Lucidao's governance process, showcases the vast possibilities within Lucidao's expansive vision for RWAs.
Lucidao's Approach to Empowering Stakeholders
Empowerment is a cornerstone of Lucidao's approach to asset tokenization and digitization. Lucidao token ($LCD) holders aren't just passive investors; they are active contributors shaping the platform's trajectory. This unique governance model transforms each $LCD holder into an engaged participant, with the ability to propose, debate, and enact initiatives, fostering an agile and adaptive environment.
The $LCD token plays a central role in Lucidao's ecosystem, serving as a versatile utility token integral to governance, transaction fees, and participation in Quickswap's liquidity pool farming. Recognizing the importance of community involvement, Lucidao is set to introduce a Fiat onramp on its new website, making it easier for individuals to directly acquire $LCD tokens.
Beyond Luxury Collectibles: Lucidao's Expansive Vision
Lucidao's vision extends far beyond luxury collectibles. While Altr showcased the platform's capabilities, Lucidao aims to be an ecosystem that embraces a wide array of real-world assets on the blockchain. The advantages are manifold, ranging from increased liquidity and fractional ownership to the transparency and immutability inherent in blockchain technology. The new website acts as a comprehensive guide to these transformative initiatives, illustrating Lucidao's commitment to unparalleled innovation and inclusivity.
Lucidao's bold rebrand marks a transformative chapter in the platform’s journey as it establishes itself as a pioneer in the tokenization of Real-World Assets (RWAs). The unveiling of a revamped website symbolizes a strategic commitment, not just to aesthetics, but to a profound shift where every facet of innovation orbits around the digitization of tangible assets. Through empowerment and community involvement, Lucidao propels itself as a catalyst for innovation and inclusivity, setting the stage for an innovative approach to asset management in both digital and physical realms.
About Lucidao
Lucidao is a DAO with a primary focus on the tokenization and digitization of Real-World Assets (RWAs). Originating as an independent entity, Lucidao has given life to projects like Altr through its decentralized governance model. Using the $LCD utility token for all ecosystem interactions, Lucidao is paving the way for a transformative approach to managing assets in both the digital and physical realms, providing not just access but empowerment to community members.
For more information, visit Lucidao's official linktree.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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