Ethereum staking continues to grow this year despite the emergence of spot exchange-traded funds (ETFs) and the digital asset’s relative price weakness.
On October 8, blockchain analytics firm IntoTheBlock reported that Ethereum staking increased 5.1% this year, with 28.89% of the total ETH supply now staked, up from 23.8%. % in January.
Data from Dune Analytics estimates that there is currently approximately 37.79 million ETH staked, worth approximately $84.8 billion, contributed by over 1 million validators. IntoTheBlock also reports that 15.3% of this staked ETH has been locked for at least three years, reflecting investors’ strong confidence in Ethereum’s long-term potential.
Despite the increase in ETH staked, Ethereum’s price growth has been modest compared to competitors like Solana. While Ethereum’s price is up about 6% year-to-date to $2,447, Solana has surged 41% over the same period.
Profitability of staking
Staking, which involves locking ETH to validate transactions in exchange for rewards, is at the heart of Ethereum’s proof-of-stake (PoS) system. This process has attracted both institutional and retail investors, providing them with the opportunity to earn returns on their staked ETH.
Data from Dune Analytics shows that around 60% of investors make profits, despite the asset’s pricing issues. The realized price for staked ETH is around $2,265, while its current market price is $2,432, which translates to a 7% profit margin for stakeholders.
Lido, a leading liquid staking platform, has the largest share of Ethereum staking, with 9.7 million ETH staked, valued at approximately $24 billion at current prices.
Among centralized staking providers, Coinbase leads with 11% of total stake, holding over 4 million ETH. Binance, which offers lower fees, controls 4.75%, or 1.6 million ETH. Other platforms, such as Ether.fi, Kiln, Figment and Kraken, also hold significant market shares. In total, centralized exchanges represent 18.5% of the Ethereum staking market.
Recently, Vitalik Buterin, co-founder of Ethereum, suggested lowering the minimum ETH requirement for solo staking. If implemented, this move could attract more participants and further contribute to growth.
