The defunct crypto lender sent over 30,000 ETH to custodian Fireblocks in the past week, some of which was deposited at crypto exchange Coinbase, data shows.
Crypto lender Celsius to unstake $470M in Ether ahead of repayments
The crypto lender has 206,300 Ether currently in the staking withdrawal queue, according to Nansen.
Web3 protocol Blast reaches $823M TVL despite bugs and controversy
Amid technical challenges and investor scrutiny, Blast’s staking model has propelled its total value locked to $823 million.
Chainlink Staking Program Quickly Pulls in $600M, Hitting Limit; LINK Jumps 12%
The blockchain-oracle project’s “v0.2” staking program expanded the capacity to 45M LINK tokens from 25M, and the portion reserved for the community quickly filled up. The LINK token surged in price.
Babylon Chain closes $18M funding for Bitcoin staking
Polychain Capital and Hack VC led the Series A funding round of Babylon Chain, a protocol working on Bitcoin staking for proof-of-stake networks.
Bitcoin Project Babylon Raises $18M to Bolster Development of Staking Protocol
The fundraise was led by Polychain Capital and Hack VC and included contributions from Framework Ventures, Polygon Ventures, Castle Island Ventures and OKX Ventures.
Liquid Staking Tokens Are a Hot Ticket for 2024
The staking market was the brightest spot in DeFi this year. The arrival of liquid staking token finance is set to turbocharge activity next year.
Ethereum Daily Revenue Soars To A 4-Month High Of $10 Million
When Ethereum (ETH) exploded past $2,000 on November 9, Erik Smith, the Chief Investment Officer of 401 Capital, observed that the platform’s average daily revenue surged to the highest level in four months.
According to data, Ethereum generated $10 million in daily revenue, extending gains registered on the previous day and pushing the metric to the highest point since July.
Ethereum Prices Above $2,000, Revenue Rising In November
For now, ETH prices remain muted but are trading around November 9 highs and remain within a bullish formation backed by decent trading volumes. Prices are still trending above the $2,000 psychological support, a critical reaction level.
A look at the Ethereum candlestick arrangement in the daily chart shows that while there is a notable spike in daily revenue, prices are still below July 2023 highs. Then, the coin soared to as high as $2,100 before pulling back as the momentum triggered by the broader crypto’s expectation of a Bitcoin Exchange-Traded Fund (ETF) approval faded. However, prices have since sharply recovered, adding roughly 40% from October lows and shaking off the weakness registered on August 17 when the coin plunged by 14%.
Token Terminal data shows that Ethereum’s daily revenue has steadily risen in the first ten days of November. Looking at trends, the average daily income has doubled from $5 million in the first five days of the month. Usually, an uptick in daily average revenue in a network points to increasing on-chain activity either through smart contract deployment or simple transfers, which necessitates the payment of gas fees.
Improving Scalability In The Long Term
How the widespread adoption of Ethereum layer-2 and sidechain scaling solutions will impact the network revenue is not immediately apparent. }
What’s clear is that the more protocols leverage the protocol, deploying multiple solutions, the more revenue the network will generate for validators and stakers. Staking rewards are drawn partly from transaction fees paid as gas, new issuance, and burned miner extractable value (MEV).
Still, the dollar value of ETH minted as revenue depends on spot rates. If the uptrend is sustained, this figure will continue expanding. Even so, there might be more demand for the network, which is still struggling to scale on-chain.
Ethereum 2.0 aims to resolve these challenges in the coming years by increasing the general throughput via solutions like Sharding. Sharding will split Ethereum into small but interconnected networks called shards. Each shard will independently process each set of transactions and maintain its state, allowing the mainnet to scale.
Celsius Bankruptcy Reorganization Plan Approved by Court; Implementation by Early 2024
Crypto lender Celsius secured approval for its reorganization plan from a bankruptcy court on Thursday, marking an end to an ordeal that began when it filed for bankruptcy in July last year.
Blockchain Staking Firms Update Best Practices Amid ‘Increased Scrutiny’
The new “staking principles,” published by the Proof of Stake Alliance, aim to ensure consumer protections and promote innovation. Signers include Lido, Coinbase, Rocketpool, Blockdaemon.
Crypto Broker sFOX Offers Commission-Free Blockchain Staking from Regulated Custody
“We are providing a gateway to staking without stepping in the middle or taking any revenue or profit,” founder Akbar Thobhani said.
Crypto Traders Are Earning 165% Yields By Staking a Token Named After Elon Musk’s Pet
Developers are trying to capture a piece of the global asset tokenization market as part of a new product in the Floki ecosystem.
Investment Manager Methodic Unveils Ether Staking Fund Offering Exposure to ETH Price and Yield
The Methodic CoinDesk ETH Staking Fund offers institutional exposure to spot ETH price and staking yields.
Investor Demand for Ether Staking Yields Has Slowed: Coinbase
Staking yields have dropped to 3.5% from above 5% in the last few months, the report said.
Ethereum price drops to a 7-month low as data points to more downside
Eth price is at risk of trading below a key price support and multiple data point point to a bearish outlook for the altcoin’s price.
Ethereum Has Nearly Cleared Out Validator Queue, a Sign of Weak Staking Demand
The waiting time to deploy new validators to the Ethereum network has diminished to just five hours from a peak of 45 days in early June.
Rise of Ethereum staking came at cost of higher centralization — JPMorgan
Ethereum co-founder Vitalik Buterin previously admitted that centralization is one of Ethereum’s main challenges, which could take 20 years to solve.
Opposing Centralization in Ethereum Staking
How Ethereum Staking Stacks Up in the Proof-of-Stake Landscape
Why is Ethereum the best bet for staking investors? Answer: because it combats inflation.
Five Reasons Why the World Needs a Standardized Ethereum Staking Rate
An ether (ETH) staking benchmark could attract institutional investors into the Ethereum ecosystem and unlock a new wave of innovation.