Ethereum 2.0 staking is gaining momentum in the crypto market. And the awards themselves reached a record high of 8.6%. This was facilitated by the rise in gas fees on the network as a result of the recent memcoin craze.
So, here are the key staking data:
- In the first week of May, Ethereum validators made a profit of $46 million.
- This is 36% more than in the last week of April, when revenue was $33 million.
- Validators earned 24,997 ETH in a week, breaking all previous records. A week ago, the amount of rewards was 18,339 ETH.
- The average Ethereum fee over the past week has consistently exceeded 100 gwei, the highest since May 2022.
As a result of all this boom, end users are getting more than $30 per swap. As gas fees increase, validators earn higher income from transaction processing fees in addition to the regular validator rewards.
As a reminder, to become a validator on the Ethereum network, a user must stake at least 32 ETH. At today’s exchange rate, that’s about $58,000.
The ETH market offers two types of rewards for staking Ethereum: negotiated rewards for offering and staking blocks, and fees for processing transactions on the network.
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