As reported by Cointelegraph, the volume of Ether staked is increasing after the Shapella upgrade in April. It is expected that in June the volume of Ether staked crossed 23 million.
With insights from Nansen, a data analytics firm,till June 27, 2023, about 23.3 million Ether (ETH $1,870) was staked amounting to $43.1 billion (at the time of writing). Supposedly, this represents about 20% of the current $220 billion supply of ETH in comparison to Solana (SOL $18) which currently has a staking ratio of 70.58%, Cointelegraph added.
“The Shanghai upgrade essentially eliminated this risk by allowing users to stake and unstake at will. As a result of this de-risking, we’re seeing a surge in staked ether — and, as expected, the network is quickly catching up to rival chains such as Solana in terms of percentage of the native token being staked on the network. This is a very healthy sign for Ethereum,” Dave Weisberger, CEO, CoinRoutes, a algorithmic-trading platform, explained.
Sources revealed that Ether’s staking might get attention, due to its future uncertainity in the United States, where the Securities and Exchange Commission (SEC) is implementing rules for cryptocurrency platforms which offer staking services, Cointelegraph concluded.
(With insights from Cointelegraph)