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

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.