Coinbase Ranks As Second Largest ETH Staking Entity As Lido’s Dominance Raise...
Prominent crypto exchange Coinbase has emerged as the second largest ETH staking entity based on a recent scoop by Chinese reporter Colin Wu. This development comes amidst growing concerns about network centralization in regard to Lido’s dominance in the ETH staking market. Related Reading: Is Ethereum’s Staking Boom A Ticking Time Bomb? JPMorgan Weighs In Coinbase Accounts For 14.1% Of ETH Staking Activity – Report According to Wu, a report from Dragonfly data scientist hildobby, using data from Dune analytics, reveals that Coinbase presently has 3.873 million staked ETH,....
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Infrastructure provider Chorus One believes they can help Lido corner 25% of all staked SOL. One of the largest ETH 2.0 and Terra staking services is now looking to expand to other proof-of-stake chains, starting with upstart layer 1 Solana. In a proposal today on Lido’s governance forums, crypto infrastructure provider Chorus One laid out a plan to build “a liquid staking token (for now: stSOL) that will accrue staking rewards and represent staking positions with Lido validators on Solana,” similar to Lido’s current interest-accruing stETH token. Development funding to bring Lido’s....
Lido’s liquid staking derivative token has over 90% of the Ethereum market share as the network ultimately transitions to proof-of-stake. After a successful third testnet merge, Sept. 19 was recently proposed as the tentative target date for the Ethereum Merge. Ethereum is set to fully transition from proof-of-work (PoW), the original consensus mechanism used by the Bitcoin network, to the more energy-efficient proof-of-stake (PoS) used by younger networks like Solana and Cardano.“The Merge won’t solve Ethereum’s scaling concerns on its own. It is just the beginning of a road map to....
Eth2 already ranks as the fourth-largest staking network by TVL despite launching six weeks ago and with withdrawals still yet to be enabled. Ethereum 2.0 has already emerged as the fourth-largest proof-of-stake network by total value locked in staking within roughly six weeks of the Eth2 deposit contract going live.Despite withdrawal functionality not yet enabled, and no precise estimation for its full launch date, nearly $1 billion worth of Ether has already been designated for staking. According to crypto data aggregator Staking Rewards, more than 1.5 million Ether or 1.35% of....
Ethereum liquid staking platforms are making waves in the decentralized finance (DeFi) ecosystem. Recent on-chain reports have revealed that liquid staking protocols have recorded a new milestone in the number of Ether (ETH) staked, reaching a staggering 12 million ETH mark in just a few days. Ethereum Liquid Staking Gains Momentum With Ethereum 2.0 thriving, liquid staking protocols in the DeFi ecosystem have been growing rapidly despite recent market volatility. Research data from DeFi TVL aggregator, Defillama, revealed on Monday, September 25, the tremendous growth of Ethereum....
In roughly three days Ethereum is expected to transition from a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) version via The Merge. Ahead of the transition, the liquid staking project Lido has seen a lot more activity as the value locked in the protocol increased by more than 13% this week. Moreover, the project’s lido dao governance token has increased 25.4% against the U.S. dollar during the past seven days.
Lido TVL Jumps 13% Higher This Week, Project’s Wrapped Ether Represents More Than 30% of Staked Ethereum
Last week, Bitcoin.com News....