Coinbase Report: Investor Demand for Ethereum Staking is Slowing Down

2023-10-16 17:04:50

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According to CoinDesk, Coinbase reported that for the first time since the Shanghai upgrade in May, the Ethereum validator queue has cleared, indicating that investor demand for Ethereum staking is stabilizing, with staking yields dropping from 5% to 3.5%.

Coinbase stated that if the underlying activity and transaction fees on the network remain stable, staking yields are expected to stabilize due to the slowing growth of validators. Activity on the Ethereum mainnet remained stable in the third quarter, while total transaction volume increased.

The report also added that there are no significant technological drivers that would meaningfully impact on-chain activity, as there have been no major Ethereum protocol upgrades prior to the Dencun upgrade.

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