HomeEthereumSantiment Reports Over $147 Billion Worth of Ethereum Supply Now Staked

Santiment Reports Over $147 Billion Worth of Ethereum Supply Now Staked

-


Ethereum Staking Reaches All-Time High: Over 33% of Supply Now Staked

The latest data from market intelligence platform Santiment reveals a significant milestone for Ethereum (ETH) as over 33% of its total supply is now being staked. This amounts to more than 47 million Ether, valued at approximately $147 billion, currently being staked on a prominent ETH staking platform. This figure is three times higher than it was just two years ago.

Staking involves crypto holders using their tokens to validate and secure a blockchain in order to earn rewards. Ethereum made the switch from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) one in September 2022, allowing users to stake ETH for validation and rewards. This transition has led to a decrease in the number of ETH entering the market, resulting in a faster, more cost-effective, and environmentally friendly blockchain. The Ethereum Foundation projected a reduction in the issuance of ETH from 13,000 to 1,600 per day.

Currently trading at $3,143, Ethereum’s price has seen a slight increase in the last 24 hours. Santiment also highlighted the top 10 crypto gaming projects with the highest non-redundant daily development activity over a 30-day period. These projects include MultiversX (EGLD), Decentraland (MANA), Immutable X (IMX), Skale (SKL), and Root Network (ROOT).

For more updates and alerts on the latest cryptocurrency news, subscribe to receive email notifications directly to your inbox. Stay informed about price action and follow The Daily Hodl on X, Facebook, and Telegram. Don’t miss out on the latest developments in the crypto world.

LATEST POSTS

Will Bitcoin Reach $100,000 in 2024 with a Major Upward Movement?

Bitcoin's Journey to $100,000: Will 2024 Be the Year? Bitcoin continues to defy expectations as its price climbs to new heights, with the coveted $100,000...

Binance Increases Support for LUNC, USTC, LUNA, SHIB, and More Cryptocurrencies

Binance TH Announces New Crypto Listing and Trading Pairs on June 11, 2024 Binance TH, the Thailand arm of the popular crypto exchange Binance, has...

TedAI Transforms Accessibility to AI and Blockchain Technology

Transforming AI and Blockchain Education: TedAI's Innovative Approach TedAI Revolutionizes AI and Blockchain Education with Innovative Tools and Community Engagement In a world where AI and...

‘Crypto Market Faces Major Upheaval as Bitcoin, Ethereum, and XRP Prices Soar in Anticipation of China Earthquake’

"Bitcoin Swings Amid Warnings to Save the Dollar: China's Crypto Future and Hong Kong's Potential" The world of cryptocurrency has been buzzing this week as...

Most Popular