Ethereum Staking Statistics and Trends

1. Over 33.8 Million Ethereum is Being Staked

As of July 2024, the amount of staked Ethereum (ETH) has reached an impressive 33,729,733 ETH, up from 25 million in August 2023. This significant 34.9% increase over the past year underscores the Ethereum community's growing confidence and engagement, especially in light of the network's transition to Proof-of-Stake (PoS).

Staked ETH accounts for 28.28% of the total Ethereum supply and is broken down in different categories. Liquid staking and restaking are two of the leading narratives that push higher participation in staking trough the options of shared pooling.

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2. Ethereum Staking Net Flows Surge Since Merge

Following the Shanghai Fork, Ethereum has experienced a substantial net increase in staked ETH, totaling 13,551,771 ETH. This surge accounts for inflows surpassing outflows by a significant margin, reflecting renewed interest and confidence in Ethereum's staking mechanism post-upgrade.

The Shanghai upgrade was a critical milestone, enabling users to unstake their ETH and access accumulated rewards for the first time. Prior to this, staked ETH on the Beacon Chain was inaccessible, limiting user flexibility. The ability to withdraw, introduced through the EIP-4895 proposal, has significantly de-risked ETH staking, making it more attractive.

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3. Lido Has 28.9% Market Share for Ethereum Staking

Lido, a prominent liquid staking provider, leads the Ethereum staking market with 9,806,621 ETH staked, translating to a 28.8% market share. This substantial dominance far exceeds that of its competitors, underscoring Lido's influence and the trust it commands within the Ethereum community.

In comparison, Coinbase, a centralized exchange (CEX), holds the second position with 4,243,554 ETH staked, capturing 12.5% of the market. Following closely, ether.fi, a liquid restaking service, manages 1,637,152 ETH, which accounts for 4.8% of the market share. Binance, another major CEX, has staked 1,470,464 ETH, constituting 3.4% of the market.

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4. Liquid Staking Derivatives Dominate ETH Staking Market

Liquid Staking Derivatives (LSDs) and Centralized Exchanges (CEXs) are key players in the Ethereum staking ecosystem, with LSDs exhibiting a clear dominance.

• Liquid Staking Derivatives (LSDs): LSDs have staked a combined total of approximately 11,066,748 ETH. Lido is the standout leader in this category, staking 9,806,621 ETH, which represents a commanding 88.63% market share among LSD providers. Other participants in this category include Rocket Pool, Frax Finance, and Stader, but Lido's influence remains unmatched.
• Centralized Exchanges (CEXs): In contrast, CEXs have staked about 8,127,675 ETH in total. Coinbase is the leading entity here, with 4,243,854 ETH staked, capturing 52.21% of the CEX market. Binance follows with 1,470,464 ETH staked, and Kraken with 785,697 ETH, making significant contributions but still trailing behind the dominant LSD sector.

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5. EigenLayer Leads The Ethereum Restaking Sector

EigenLayer has solidified its position as the leading force in the Ethereum restaking sector, a process where staked assets are used as collateral for additional blockchain operations, enhancing the security and functionality of the Ethereum network. EigenLayer's dominance is underscored by its impressive Total Value Locked (TVL) of $16.488 billion, equivalent to 4,888,746 ETH.

This puts EigenLayer significantly ahead of its competitors. Symbiotic follows with a TVL of $1.257 billion (372,555 ETH), and Karak holds $780 million (231,952 ETH). EigenLayer's substantial TVL illustrates its crucial role in the restaking landscape, contributing significantly to the Ethereum ecosystem's security and innovation.

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6. Most Ethereum Was Staked at $1,900 USD

An in-depth analysis of Ethereum staking data highlights a notable trend: the majority of ETH was staked when the price was around $1,900 USD. Specifically, 6,165,996 ETH was staked at this price point, marking it as the average price at which Ethereum holders chose to stake their assets.

This data stands out in comparison to other price buckets. For instance, the next highest amount staked at a specific price is 3,760,507 ETH at $1,600. Other significant price points include $2,000 with 1,455,674 ETH and $2,100 with 1,469,790 ETH staked.

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7. Coinbase has the Most Staked ETH for Centralized Exchanges

In the Ethereum staking arena among Centralized Exchanges (CEXs), Coinbase emerges as the clear leader. Coinbase has staked 4,243,854 ETH, capturing a dominant 52.21% market share in this category.

Trailing behind, Binance has staked 1,470,464 ETH, accounting for 14.08% of the market, while Kraken follows with 785,697 ETH, holding a 9.67% share. Other notable contributions include Bitcoin Suisse with 526,466 ETH and Upbit with 393,832 ETH.

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8. Ethereum Staking Pools are the Smallest Entities

Ethereum staking pools, though smaller in comparison to other staking entities, play a crucial role in the ecosystem. Kiln leads the Ethereum staking pools with 1,073,697 ETH, securing a 19.23% market share within the staking pools category. Following Kiln, Figment has staked 917,825 ETH, holding a 16.52% market share. Staked.us comes next with 592,316 ETH, representing 10.68% of the market.

Other top staking pools include Mantle with 490,688 ETH, Everstake with 483,643 ETH, and stakefish with 457,825 ETH. Although smaller in size, these staking pools play a vital role in enhancing Ethereum's decentralized infrastructure. They provide varied staking options, ensuring the network remains secure and robust through diverse participation.

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What is Ethereum Staking?

Ethereum staking involves locking up ETH to verify transactions and protect the Ethereum network through a system called Proof-of-Stake (PoS). Validators who stake at least 32 ETH propose and attest blocks for rewards. This mechanism improves scalability, security, and energy efficiency by replacing the energy-intensive Proof-of-Work (PoW) model that Bitcoin uses.

Both individual and pooled staking services allow more people to stake and help create a decentralized network. People often explore liquid staking, restaking, and liquid restaking in Ethereum, enjoying the flexibility and extra opportunities to earn yields.

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Bottom Line

Ethereum staking has seen grown greatly, driven by community confidence and advancements in staking mechanisms. With over 33.8 million ETH staked, accounting for 28.28% of the total supply, the Ethereum network has demonstrated robust participation and commitment.

Key developments, such as the Shanghai Fork and the rise of liquid staking derivatives and restaking services, have enhanced staking flexibility and yields, fostering a more dynamic and secure ecosystem. Leading names such as Lido and EigenLayer showcase the shift towards creative staking solutions, with Coinbase taking the lead in centralized exchanges.