Ethereum surpassed 300K validators: Here’s what you should know
The world’s second-biggest cryptocurrency, Ethereum, which has a market cap of almost $336 billion, continues to dominate the crypto space. As the platform supports a variety of blockchain-based products, the network has passed 300,000 validators, as data suggests.
Ethereum passes 300K validators
As witnessed in our previous report, the entire crypto market has seen increased volatility due to the invasion of Ukraine by Russia. It is important to note that the token has jumped from a low of $2,172 to a high of $4,780 in the last 90 days, as noted in the data from CoinMarketCap.A recent achievement noted by Ethereum investors saw that the network had surpassed 300,000 validators. The total Ethereum staked has a value of 9,603,887 ETH.
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On the other hand, the network supports took to Twitter to bring “focus on decentralization” and “ask pools to practice client diversity and voluntarily hold less than 20% of validators.”
Shanghai upgrade
As the Shanghai network is approaching in the distant future and the popularity of the term ETH 2.0 becomes a major reason why investors consider a bullish future for the token, the merge of Ethereum’s mainnet with the Beacon Chain is expected in Q2 this year.The Shanghai hard fork will bring huge benefits to the stakers, as noted in Coinbase’s APR (Annual Percentage Rate) prediction. Ethereum staking yields might rise from 4.3-5.4% APR to 9-12% in the near future as the amount of reward going to the validators will increase.
While mining became a major part of the Proof-of-Work (PoW) ETH, the Ethereum staking functionality might confirm the transition of the network to Proof-of-Stake (PoS). Moreover, on the other hand, Coinbase CPO Surojit Chatterjee predicts huge Ethereum scalability advancements in 2022, as noted in our previous report.
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