Ethereum staking saw strong demand from institutions following the Merge. Even if the adoption rate slows down in a few months, its future looks promising, say Vivek Chauhan and David Lawant, of FalconX.
The Merge upgrade, which effectively brought the Proof-of-Stake mechanism to Ethereum, was activated almost a year ago. The subsequent Ethereum Shapella upgrade, which allowed staked ETH withdrawals, is about six months old. With these two monumental changes, we saw the rise of the Ethereum staking industry, which already counts more than $40 billion worth of staked assets and has generated over $1.6 billion in total staking rewards, a proxy for total revenue.
When measured against other supply metrics, the adoption is even more striking: The supply of ETH staked has recently surpassed 50% and 65% of the supply active over the past year and six months, respectively. Notably, during this intense ramp-up period, the network has been operating smoothly, except for two relatively minor incidents, in which the network failed to finalize blocks for a few minutes but managed to recover on its own.One measure of how ETH staking has been incorporated by institutions is the difference between ETH and BTC basis in the CME, a venue used exclusively by institutional investors.
France Dernières Nouvelles, France Actualités
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