- There have never been more validators securing the Ethereum blockchain than now.
- Almost 50,000 new validators are waiting to enter the active validator set on Ethereum.
- ETH staking rewards are nearing double digits.
The Ethereum Shapella upgrade was thought to become a bearish event for the price of ETH. That’s because it unlocked billions worth of ETH and allowed validators to exit.
However, this hasn’t happened. In fact, the number of validators wanting to start validating has just hit a new all-time high as staking APR continues to grow.
ETH Validators Hit All-Time High
Validators wanting to enter the active validator set on the Ethereum blockchain have continually grown over the past week or so.
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According to data from beaconcha.in, there are now 571,695 active validators validating transactions on Ethereum. This is essentially a new all-time high of active validators.
The number is poised to grow. beaconcha. also reports that over 49,000 new validators are waiting to enter the program. In comparison, only one is waiting to exit.
The validator growth might be linked to the ETH staking rewards that have increased significantly in the past weeks.
ETH Staking APR Continues to Grow
Validators have been flocking to stake their ETH and validate transactions to receive staking rewards, which have recently increased exponentially.
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According to data from TokenUnlocks, ETH staking APR is currently 8.73%. That’s what individual validators are presently receiving.
As for stakers who stake with liquid staking derivatives (LSD) protocols, the APR is a bit lower. For example, Lido, the most popular LSD protocol, currently offers 6.4% ETH rewards.
Rocket Pool, the second largest decentralized staking service, offers 5.17% ETH rewards.
ETH is currently trading at $1,828, according to data from CoinGecko. It’s up 1.6% in the past 24 hours.
On the Flipside
- Lido has yet to enable stETH:ETH withdrawals. Once they’re enabled, the total number of validators might drop, even if for a moment.
Why You Should Care
A large number of validators and node runners increase the security of a blockchain. For Ethereum, billions of dollars worth of assets currently sitting on the blockchain are as secure as ever.
Read more about ETH holdings on exchanges going down:
ETH Holdings on Exchanges Hit All-Time Low Despite Recent ETH Slump
Read more about Polygon’s recent slump:
Polygon (MATIC) Pushed Out of Top 10 Cryptocurrencies by Solana (SOL)
