Currently, approximately 25% of the second largest cryptocurrency’s supply is being staked. According to Dune, the locked coins, which reached a value of $72 billion, equal to 30,153,982 ETH, are being staked by 942,023 validators.
The recent network upgrade, Shapella, implemented in April 2023, led to a significant increase in demand for staking and the overall participation of network users.
One of the main benefits of Shapella was the ability for users to withdraw their previously locked cryptocurrency.
Since the upgrade, there has been a net inflow of 10.25 million ETH into staking. Due to the heightened interest and participation, the profitability of staking has decreased from 8.6% to approximately 3.8% in the past year.
