Token Unlock reported that the current annualized rate of return for ETH staking is 8.6%, hitting an all-time high. Following the implementation of the Shanghai update, a total of 3.4 million ETH was deposited in ETH2.0 contracts.
Meanwhile, 2.67 million ETH was withdrawn, resulting in a net pledge of 734.92 thousand ETH, equivalent to $1.4 billion. Furthermore, the stETH APR has risen to an unprecedented level of 8%.
This news comes after the successful implementation of the Shanghai update on the Ethereum network. The update specifically aims to improve scalability and efficiency, addressing longstanding concerns such as high fees and slow transaction speeds.
As a direct consequence of the update, a significant amount of activity has been observed. In particular, 3.4 million ETH have been deposited in ETH2.0 contracts, demonstrating growing confidence among investors in Ethereum’s potential. Additionally, 2.67 million ETH has been withdrawn, suggesting an active engagement with the network. These trends highlight the willingness of stakeholders to stake their stakes in Ethereum, showing a belief in the future prospects of the network.
A post in the Binance feed highlighted that ETH staking offers a notable advantage in earning rewards, and currently, the annualized rate of return has reached an all-time high. This implies that people who have staked their Ethereum holdings are now reaping higher rewards than ever before.
Furthermore, the APR of stETH has risen to a remarkable high of 8%, further enhancing the earning potential of stakeholders. These achievements serve as a testament to the strength and potential of the Ethereum network. The substantial net commitment of 734.92k ETH, equivalent to $1.4 billion, is a clear indication of the high level of confidence investors have in Ethereum. This considerable amount of capital demonstrates the immense interest in staking ETH and capitalizing on the associated rewards.
