Ethereum staking defies market trends with robust growth in 2024
Ethereum staking has increased by 5.1% in 2023, with 28.89% of the total ETH supply now staked, up from 23.8% in January. Approximately 37.79 million ETH, valued at $84.8 billion, is staked by over one million validators. Strong investor confidence is indicated by 15.3% of staked ETH being locked for at least three years. Despite a modest price increase of 6% year-to-date to $2,447, Ethereum's performance lags behind Solana's 41% surge. About 60% of stakers are profitable, with a realized price of $2,265 and a current market price of $2,432, yielding a 7% profit margin. Lido leads liquid staking with 9.7 million ETH staked, while Coinbase and Binance hold significant stakes among centralized providers. Centralized exchanges account for 18.5% of the Ethereum staking market. Vitalik Buterin has proposed lowering the minimum ETH requirement for solo staking to attract more participants.
