{"id":517153,"date":"2023-01-23T10:10:12","date_gmt":"2023-01-23T15:10:12","guid":{"rendered":"https:\/\/wncen.com\/?p=517153"},"modified":"2023-03-08T07:26:20","modified_gmt":"2023-03-08T07:26:20","slug":"ethereum-staking-reaches-16-million","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-staking-reaches-16-million\/","title":{"rendered":"Ethereum Staking Reaches 16.16 million ETH Ahead of Shanghai Upgrade"},"content":{"rendered":"

According to<\/span> Glassnode on-chain data<\/span><\/a>, Ethereum staking has reached an all-time high of over 16.16 million ETH which has been deposited into the beacon chain.\u00a0<\/span><\/p>\n

The 16.16 million ETH figure consists of over 13.28% of the total Ether supply and represents $26.13 billion at current prices.<\/span><\/p>\n

As per the data, out of the 16 million ETH staked, about 11.408 million ETH\u00a0 have been staked through staking services providers such as Lido, Coinbase, and Kraken, among others – representing 70.86% of the total staked on the Beacon chain. According to the data, Lido dominates<\/span> ETH staking <\/span><\/a>with 29.3%, Coinbase controls 12.8%, while Kraken holds 7.6%, and Binance controls 6.3% of total staked.<\/span><\/p>\n

BeaconScan data<\/span><\/a> shows that the number of active validators stands at about 503,702 while<\/span> Nansen data<\/span><\/a> shows that the number of unique staking depositors is about 93,800.<\/span><\/p>\n

Related Reading: Ethereum Nears $1,600 Level \u2013 Is The $2K Mark Hittable This Week?<\/a><\/div>\n

The Upcoming Shanghai Upgrade<\/span><\/h2>\n

The rising number of staked ETH is an indication of the promising signals of <\/span>Ethereum<\/span><\/a> adoption and security. However, this may create pressure on the network\u2019s core developers to speed up work to enable withdrawals to maintain balance on the network.<\/span><\/p>\n

While the staked funds are locked up within the network and get accrued yield, it will be impossible to withdraw until the network\u2019s<\/span> Shanghai upgrade<\/span><\/a>, which is expected to take place in March. <\/span><\/p>\n

Many participants are expected to withdraw their staked<\/span> ETH<\/span><\/a> after the Shanghai upgrade. However, the withdrawals are anticipated to happen in stages and validators are to be rewarded for re-staking. The mechanism is expected to ensure a balance in the chain.<\/span><\/p>\n

The increasing amounts of staked ETHs are important as it makes it more difficult for an individual actor to attack the Ethereum chain. But since the majority of staked ETH currently belongs to large wallets, the phenomenon has drawn concerns that the chain is becoming too centralized. <\/span><\/p>\n

Developers are reported to be working on making the Ethereum network less centralized as some staking providers such as Lido appear dominating in ETH staking<\/a>.<\/span><\/p>\n

Related Reading: If Any Crypto Will Reach $1 Trillion, It\u2019s Ethereum, Not Bitcoin: Dragonfly Capital<\/a><\/div>\n

The amount of staked ETH has risen 16.68% since the<\/span> Merge upgrade<\/span><\/a> in September when Ethereum transitioned to today\u2019s favorite staking system (proof-of-stake consensus mechanism) from its old proof-of-work energy-intensive crypto mining process.<\/span><\/p>\n

ETH Price Seeing Uptrend<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/span><\/h2>\n

At the time of writing,<\/span> ETH’s trading price<\/span><\/a> is at $1,634.98 USD, up 0.65%, with a decrease of its trading volume by 18% to $6,947,406,035 USD in the last 24 hours.<\/span><\/p>\n

\"Ethereum
ETH price is moving sideways on the 4-hour chart. Source: ETHUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

While this shows a slight reduction in interest among traders, ETH’s price analysis shows a bullish market, which has been favoring the buyers as the price currently sees significant improvements.<\/span><\/p>\n

The buyers have been able to recover the price above $1,600. The recovery has been slow as there is still selling pressure within the market. The bulls and bearish are trying to capitalize on opportunities in the market.<\/span><\/p>\n

Featured image from Unsplash, Chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

According to Glassnode on-chain data, Ethereum staking has reached an all-time high of over 16.16 million ETH which has been deposited into the beacon chain.\u00a0 The 16.16 million ETH figure consists of over 13.28% of the total Ether supply and represents $26.13 billion at current prices. As per the data, out of the 16 million ETH staked, about 11.408 million ETH\u00a0 have been staked through staking services providers such as Lido, Coinbase, and Kraken, among others – representing 70.86% of the total staked on the Beacon chain. According to the data, Lido dominates ETH staking with 29.3%, Coinbase controls 12.8%, while Kraken holds 7.6%, and Binance controls 6.3% of total staked. BeaconScan data shows that the number of active validators stands at about 503,702 while Nansen data shows that the number of unique staking depositors is about 93,800. Related Reading: Ethereum Nears $1,600 Level \u2013 Is The $2K Mark Hittable This Week? The Upcoming Shanghai Upgrade The rising number of staked ETH is an indication of the promising signals of Ethereum adoption and security. However, this may create pressure on the network\u2019s core developers to speed up work to enable withdrawals to maintain balance on the network. While the staked funds are locked up within the network and get accrued yield, it will be impossible to withdraw until the network\u2019s Shanghai upgrade, which is expected to take place in March. Many participants are expected to withdraw their staked ETH after the Shanghai upgrade. However, the withdrawals are anticipated to happen in stages and validators are to be rewarded for re-staking. The mechanism is expected to ensure a balance in the chain. The increasing amounts of staked ETHs are important as it makes it more difficult for an individual actor to attack the Ethereum chain. But since the majority of staked ETH currently belongs to large wallets, the phenomenon has drawn concerns that the chain is becoming too centralized. Developers are reported to be working on making the Ethereum network less centralized as some staking providers such as Lido appear dominating in ETH staking. Related Reading: If Any Crypto Will Reach $1 Trillion, It\u2019s Ethereum, Not Bitcoin: Dragonfly Capital The amount of staked ETH has risen 16.68% since the Merge upgrade in September when Ethereum transitioned to today\u2019s favorite staking system (proof-of-stake consensus mechanism) from its old proof-of-work energy-intensive crypto mining process. ETH Price Seeing Uptrend\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 At the time of writing, ETH’s trading price is at $1,634.98 USD, up 0.65%, with a decrease of its trading volume by 18% to $6,947,406,035 USD in the last 24 hours. While this shows a slight reduction in interest among traders, ETH’s price analysis shows a bullish market, which has been favoring the buyers as the price currently sees significant improvements. The buyers have been able to recover the price above $1,600. The recovery has been slow as there is still selling pressure within the market. The bulls and bearish are trying to capitalize on opportunities in the market. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":517155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[142,6664,8323,1946,3477,5939],"class_list":["post-517153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoins","tag-crypto","tag-eth","tag-ethereum","tag-pos","tag-staking"],"acf":[],"yoast_head":"\nEthereum Staking Reaches 16.16 million ETH Ahead of Shanghai Upgrade<\/title>\n<meta name=\"description\" content=\"According to Glassnode on-chain data, Ethereum staking has reached an all-time high of over 16.16 million ETH which has been deposited into the beacon\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Staking Reaches 16.16 million ETH Ahead of Shanghai Upgrade","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-staking-reaches-16-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-staking-reaches-16-million\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?fit=2560%2C1655"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto","eth","ethereum","pos","staking"],"dateCreated":"2023-01-23T15:10:12Z","datePublished":"2023-01-23T15:10:12Z","dateModified":"2023-03-08T07:26:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Staking Reaches 16.16 million ETH Ahead of Shanghai Upgrade\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-staking-reaches-16-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-staking-reaches-16-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/ETH-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/ETH-scaled.jpg?fit=2560%2C1655\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto\",\"eth\",\"ethereum\",\"pos\",\"staking\"],\"dateCreated\":\"2023-01-23T15:10:12Z\",\"datePublished\":\"2023-01-23T15:10:12Z\",\"dateModified\":\"2023-03-08T07:26:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?fit=2560%2C1655","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517153"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=517153"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/517155"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=517153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=517153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=517153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}