At $40 bn, Ethereum Staking Scales New Record
The Ethereum network just passed a significant milestone in deposit contract balance thanks to the exploding interest in staking after the long-awaited upgrade that has allowed validators to withdraw their staked tokens.
According to data released by cryptocurrency analytics firm CryptoRank on May 23, users have in fact deposited more than 4.4 million ETH since April 12, surpassing $40 billion in deposit contract balance following the Shanghai upgrade.
Earlier, Finbold reported on the second-largest crypto asset by market capitalization’s record-high staking returns, which as of May 15 stood at 8.76%. This is known as the interest rate for running an ETH validator.
(With inputs from Shikha Singh)
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