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Ethereum Staking Reaches New High with Over 23.5 Million ETH Locked

June 23 (Cointime) - The Ethereum blockchain has seen a significant increase in staking, with over 23.5 million ETH currently locked in. Staking allows token holders to earn passive income on their assets while contributing to network security. The recent influx of staked ETH, totaling over $38 billion, has made the blockchain more secure. This growing interest in Ethereum staking is a positive sign for the network and shows a move towards decentralization.

Caged Beasts Presents Unique Referral Programme Which Could Trump Staking USD Coin and Polygon

June 21 (Cointime) - The rise of the crypto-based economy has opened up opportunities for earning passive income through crypto assets, similar to fiat currencies.

Solana's DeFi Performance Declines, NFTs and Social Engagement Offer Glimmer of Hope

Solana's DeFi performance has seen a decline due to falling volumes on the protocol's decentralized exchanges. However, there has been growth in the NFT sector and social engagement, while stakers remain optimistic. Despite a recent lawsuit filed by the SEC causing a decline in sentiment, there has been an increase in the number of addresses staking Solana, indicating continued confidence in the network's long-term potential. Solana's future growth may depend on its ability to make significant strides in the DeFi sector.

BitKeep Wallet Integration with Rocket Pool Reveals Plans for Staking Services and Integration with ETH 2.0

Web3 multi-chain wallet BitKeep has recently achieved a successful integration with Rocket Pool, a prominent Ethereum liquidity staking protocol. Rocket Pool has now included a link to BitKeep's Chrome extension Wallet on its web-based staking portal, endorsing BitKeep as one of the official wallets of choice. This integration is set to enable BitKeep users to stake their ETH and garner rewards directly from their browser extension via the Rocket Pool platform. Concurrently, BitKeep has also launched a campaign exclusively for Rocket Pool participants.

Over 90,000 Validators Waiting to Provide Validation Services on Ethereum

More than 90,000 validators are waiting to provide protocol validation services on Ethereum, causing congestion for validators to enter and begin staking in the protocol. This means a validator entering the queue today must wait more than 46 days to be activated and begin its tasks.

DeFi Faces Competition from Ethereum's Annual Staking Reward, but Liquid Staking Derivatives Could Revive Network Activity

According to Glassnode analysts, the DeFi activity on Ethereum has decreased during the bear market and is facing competition from Ethereum's annual staking reward of 4%. However, there is a growing DeFi narrative around liquid staking derivative (LSD) tokens that could revive Ethereum's network activity. The percentage of gas consumed by DeFi protocols has dropped from 34% in 2020 to 8-16% presently, with NFTs commanding the maximum share of 25-30%. The DeFi "Blue-Chips" have lost 88% of their market capitalization from the all-time highs of $45 billion in May 2021. Staking has become popular among Ethereum investors, especially after the Shapella upgrade in April 2023, which enabled redemptions from the staking contract. LSD platforms like Lido and Rocket Pool account for one third of this massive market. These applications offer tokenized representation of staked ETH, allowing investors access to the staking yields without compromising liquidity. The liquidity of LSD tokens on Curve Finance, the largest stablecoin exchange in the market, has surpassed $1.5 billion.

DeFi Tokens Lose Investor Interest to Ethereum's Staking Feature: Glassnode Report

According to blockchain data firm Glassnode, investors have lost interest in blue-chip DeFi tokens like Uniswap and Maker, which helped kickstart the 2020 bull run. This is largely due to Ethereum's new staking feature, which offers returns of up to 4% APR and less risk. Glassnode notes that the DeFi market cap is currently at just 12% of its all-time high in November 2021. DeFi projects aim to replace traditional finance by cutting out middlemen and automating processes like borrowing and lending, but they now need to compete with Ethereum's steady returns.

Lido Finance Processes Almost All Withdrawal Requests in a Week Since Launch of Version 2

Lido Finance's LDO liquid staking protocol has successfully processed almost all withdrawal requests within a week since the launch of its version 2. The withdrawals were facilitated using Lido's ETH buffer, which still has a supply of 37.4k available. The buffer is funded through execution layer rewards, partial withdrawals, and daily ETH deposits made by new stakers via Lido. Lido's TVL has increased by 10% in the last month, and its total value locked now stands at $12.5 billion, which is almost double the second-ranked MakerDAO. This demonstrates the growing popularity and success of Lido Finance's protocol.

Surge in Interest for Ethereum Staking Following Shapella Upgrade Implementation

Interest in staking ether (ETH) has increased since the implementation of the Shapella or Shanghai upgrade on April 12. According to Glassnode, over 4.4 million coins have been deposited into the staking contract since then, taking the tally to 22.58 million. Bitfinex analysts suggest that the surge in demand for staking is likely due to large ether holders seeking to generate passive income. Despite a waiting time of over one month, more than 50,000 perspective validators are in the queue, enticed by an annual yield of around 4-5 percent through token staking. The Shapella upgrade has de-risked staking, allowing users to unlock their coins at will, mitigating its perceived risk for many investors.