Staked ETH Reaches 30 Million: Nansen Report

TL;DR
1.Lido Finance: 9,471,392 ETH staked, 32% of total. Controversy over centralization.
2.Post-Merge: Ethereum validators surge from 488 to 928, per Beaconcha.in.
3.Shapella upgrade sparks ETH uptick to $2,000, lower selling pressure than expected.
4.Ethereum advances with Dencun upgrade: Successful testnet deployment, mainnet launch imminent.
5.Ethereum: $2,400, up 2.8% in 24h (CoinGecko).

According to analytics firm Nansen, a total of 30 million Ethereum (ETH), valued at approximately $73 million, has been staked. This amount represents about 25% of the circulating supply of ETH.

Source: Nansen

Lido Finance Dominates Ethereum Staking

Lido Finance emerges as a significant player in Ethereum staking, with 9,471,392 ETH deposited, constituting 32% of the total deposits. However, Lido's dominance has sparked controversy regarding the centralization of power within the decentralized ethos of the Ethereum network.

Surge in Ethereum Validators Post-Merge

Since the Merge, the number of Ethereum validators has surged from approximately 488 to over 928, as reported by Beaconcha.in.

Impacts of the Shapella Network Upgrade

After the Shapella network upgrade last April, concerns arose regarding potential selling pressure due to the withdrawal of previously staked ETH. However, contrary to expectations, Ethereum's price experienced an immediate uptick, surpassing $2,000. Although ETH entered a correction phase in the subsequent months, the selling pressure was lower than anticipated.

Anticipation for the Dencun Upgrade

Following the Shapella hard fork, Ethereum is now progressing towards the next milestone – the Dencun upgrade. Ethereum developers reported the successful deployment of Dencun on the Holesky testnet, with smooth executions on Goerli, Sepolia, and Holesky. Mainnet execution of Dencun is expected soon.

Dencun's Impact on Ethereum's Price

Dencun is anticipated to be a major catalyst for Ethereum's price this year. At the time of writing, Ethereum is trading around $2,400, marking a 2.8% increase in the last 24 hours, according to CoinGecko's data.

Conclusion：Ethereum Staking Surges; Centralization Concerns

According to Nansen analytics, 30 million Ethereum (ETH) worth $73 million has been staked, representing 25% of circulating ETH. Lido Finance dominates with 32% of total deposits, sparking concerns about centralization. Post-Merge, Ethereum validators surged from 488 to over 928. Despite concerns after the Shapella upgrade, Ethereum's price increased, now around $2,400. The upcoming Dencun upgrade is expected to further impact Ethereum's price positively, with successful testnet deployments paving the way for mainnet execution.