2023-05-14
As the Ethereum network sees an
increase in staking activity following the Shapella upgrade, which introduced
validator withdrawals for the first time. According to a new report, the
increase in staking activity could result in a doubling of numbers over the
next 18 months.
Total ETH
deposits in the week ending May 2 were four times higher than the amount added
in the week prior to the Shapella upgrade last month, according to
non-custodial staking provider Staked and Kraken-owned companies.
"With
this increased demand for staking, we expect this rate to increase from ~15%
today to 20-35% in the next 12-18 months," the company said, noting that
average daily deposits are at 6.5x higher than in April.
The company
said 750,000 ETH was staked in the six days after the Shapella upgrade,
compared with over 600,000 ETH staked throughout March.
Currently,
Ethereum generates approximately $1.8 billion in annual staked rewards revenue.
As of May 2, all staked ETH was canceled for a net decrease of 320,000 ETH staked, with a total of 1.65 million ETH staked.
