Solana's staking market cap briefly surpassed Ethereum, raising concerns about centralization due to Lido's high share of liquid staking

2025-04-21 12:21:14

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ChainCatcher news, according to Cointelegraph, the total value of SOL tokens staked on the Solana network briefly surpassed the market value of staked ETH on Ethereum yesterday.

On-chain data shows that there are 505,938 unique wallets on the Solana network staking SOL worth $53.9 billion, with an annual staking yield of 8.31%; on the Ethereum chain, there are a total of 34.7 million ETH participating in staking, valued at $53.93 billion. The high validation threshold of 32 ETH (approximately $50,000) has led many stakers to shift from node staking to liquid staking protocols, which is a key reason for the reduction of native staking on the Ethereum chain. Currently, about $21.5 billion in funds are participating in liquid staking on the Ethereum chain, with Lido alone accounting for 88% of the market share, exacerbating concerns about Ethereum's centralization, and Ethereum developers are exploring solutions to promote staking decentralization.

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