Summary
Almost 9,000 validators are waiting to join the Ethereum network as the price of ETH reaches $3,000. The number of validators could reach one million by April’s Bitcoin halving as restaking becomes more popular. Restaking services allow validators to earn additional yield by staking their ETH in multiple middleware solutions. The Ethereum network recently onboarded 12,741 nodes and the total number of active validators is now at 945,647. The Ethereum merge in 2022 changed the network’s consensus mechanism from proof-of-work to proof-of-stake, incentivizing validators to secure the network. However, some large validators are facing issues, such as being mistaken for centralized crypto exchanges and being unable to collect staking rewards.
Key Points
1. There are currently almost 9,000 validators waiting in line on the Ethereum network as the crypto’s price touches $3,000. The number of validators could hit one million by April’s Bitcoin halving as restaking takes off.
2. In the past week, the amount of ETH staked on the network reached $1.24 billion. The network also onboarded 12,741 nodes over the same period. The total number of active validators is now at 945,647.
3. Many aspiring validators come amid the rise of applications that could increase the returns from staked ETH. So-called restaking services boost returns by restaking staked ETH invested in liquid staking services like Lido Finance and Ethereum.