• Ethereum’s transition to a Proof-of-Stake (PoS) consensus mechanism last year led to an increase in staking services where holders can generally deposit any amount of tokens and earn staking rewards.
• Data from Glassnode shows that the total value locked into the Ethereum staking contract is now around 16.1 million ETH in the overall network, which is about 13.4% of the total circulating supply of the cryptocurrency.
• Lido accounts for the most amount of total staked Ethereum supply, with more than 70% of the total staked Ethereum supply contributed by staking services.
The Ethereum network recently completed its transition to a Proof-of-Stake (PoS) consensus mechanism, meaning that miners are no longer actively participating in the network. Instead, their role has been replaced by stakers, who are responsible for validating the transactions on the network. To become a staker, all an investor needs to do is lock in a collateral of 32 ETH into the Ethereum staking contract. This requirement may be too high for the average investor, so staking pool services were created, allowing users to pool their coins together and earn staking rewards.
According to data from Glassnode, the total value locked into the Ethereum staking contract is now around 16.1 million ETH in the overall network, which is approximately 13.4% of the total circulating supply of the cryptocurrency. Of the total staked Ethereum supply, more than 70% is contributed by staking services, with Lido accounting for the most amount.
Staking pool services allow users to earn rewards based on the amount of coins they stake, making it an attractive option for those who want to participate in the network without a high initial investment. The rewards are usually proportional to the amount of coins staked, and the stakers can be confident that their coins are safe and secure. Additionally, these services often provide additional benefits, such as technical and customer support, as well as access to a wide array of staking options.
Overall, the Ethereum staking pool services are a great way for users to earn rewards on their coins without the need for a high initial investment. By pooling their coins together, users can earn rewards on their coins and be confident that their coins are safe and secure. As the Ethereum network continues to evolve, more and more users are likely to take advantage of these services in order to get the most out of their staking experience.