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- New data suggests that the majority of Ethereum staked was handled by four providers<\/span><\/em><\/li>\n
- Staking revenue declines however traders continue to show interest<\/span><\/em><\/li>\n<\/ul>\n
According to new data majority of all ETH staked was handled by four staking providers. This development could pose a threat to the decentralization of Ethereum. This data was shared by Delphi Digital, a crypto research organization, via Twitter.<\/span><\/p>\n
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57% of all $ETH<\/a> staked is handled by 4 staking providers, with @LidoFinance<\/a> alone representing 30%. pic.twitter.com\/h5nKuIXDKb<\/a><\/p>\n
\u2014 Delphi Research (@Delphi_Digital) December 24, 2022<\/a><\/p>\n<\/blockquote>\n
\n\u00a0\u00a0Read <\/span>Ethereum\u2019s [ETH] Price Prediction<\/span><\/a> 2023-2024<\/p>\n
\nPower of the majority\u00a0<\/b><\/h3>\n
From the data provided by Delphi Digital, it was observed that 57% of all Ethereum staked was being handled by providers such as Lido Finance, Coinbase, Binance, and Kraken. Out of these providers, Lido Finance was responsible for 30% of the overall ETH staked by these institutions.<\/span><\/p>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FkwC_JGXoAAaik7.png\")
<\/a><\/p>\nSource: Delphi Digital<\/p>\n<\/div>\n
Along with the centralization of Ethereum<\/a> staking, another cause of concern would be the declining revenue generated by the Ethereum stakers.<\/span><\/p>\n
Based on the information provided by Staking Rewards, it was observed that the revenue generated by Ethereum stakers had declined by 22.88%. At the time of writing, the overall revenue collected by the stakers was $863.5 million.<\/span><\/p>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-25-at-11.05.44-AM.png\")
<\/a><\/p>\nSource: Staking Rewards<\/p>\n<\/div>\n
Despite a dwindling state of the revenue generated by Ethereum<\/a> at press time, things could take a turn for the better for Ethereum in this regard. This would be because there was an uptick observed in the amount of gas being used for Ethereum transactions.<\/span><\/p>\n
According to data <\/span>provided by Glassnode,<\/span><\/a> the median gas usage for Ethereum had reached a one-month-high. If this gas usage continues to grow, the fees generated from the gas spent can improve the revenue that is being generated.<\/span><\/p>\n
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📈 #Ethereum<\/a> $ETH<\/a> Median Gas Usage (7d MA) just reached a 1-month high of 49,912.399<\/p>\n
View metric:https:\/\/t.co\/23i2EjKSqS<\/a> pic.twitter.com\/V1eT2YC6zr<\/a><\/p>\n
\u2014 glassnode alerts (@glassnodealerts) December 23, 2022<\/a><\/p>\n<\/blockquote>\n
\u00a0<\/p>\n
Present and the Future(s)<\/b><\/h3>\n
Although the revenue generated by Ethereum was declining, the futures and derivatives market continued to show interest in Ethereum. Data gathered by <\/span>CryptoQuant<\/span><\/a> showed that open interest in Ethereum had increased. Furthermore, it was observed that most traders had held long positions on Ethereum.<\/a><\/span><\/p>\n
\nHow much Ethereum can you get for $1?<\/a><\/p>\n
\n - Staking revenue declines however traders continue to show interest<\/span><\/em><\/li>\n<\/ul>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-11.31.52-25-Dec-2022.png\")