Daily News 19

Tag: Ethereum staking

  • Ethereum Layer 1 Sets Record 25.9 TPS as Q2 Transactions Hit 203.9 Million

    Ethereum Layer 1 Sets Record 25.9 TPS as Q2 Transactions Hit 203.9 Million

    Ethereum’s Layer-1 network achieved fresh usage milestones in the second quarter of 2026, even as the count of monthly active users contracted sharply. According to Token Terminal data, the blockchain processed 203.9 million transactions during the quarter, representing a 68.4% increase year-over-year. Average throughput also hit a record high of 25.9 transactions per second.

    Transaction Volume Surges Despite User Decline

    Despite the surge in on-chain activity, monthly active users fell 30% quarter-over-quarter to 9.2 million. This divergence indicates that the remaining user base generated significantly more transactions per capita. Network fees climbed 31.6% to $52.5 million, while ETH burn revenue more than doubled to $17.1 million, underscoring the intensified economic activity on the base layer.

    Tokenization Bolsters Ethereum’s Dominance

    Ethereum’s position as the primary settlement layer for tokenized assets strengthened further. The market for tokenized assets on Ethereum averaged $203.1 billion during Q2. Stablecoins continued to dominate this segment, accounting for $176.8 billion, while tokenized funds reached $20.8 billion. Notably, tokenized U.S. Treasury funds hit a record average of $7.5 billion.

    The network retained the largest share of both stablecoins and tokenized funds among leading blockchain ecosystems. Total value locked (TVL) across Ethereum’s ecosystem averaged $287.2 billion, though this figure declined 9.2% compared to the previous quarter.

    Staking Growth Signals Network Confidence

    Participation in network security reached a new high, with Ethereum’s staking ratio climbing to a record 32%. The number of addresses holding ETH also expanded, rising 6.6% to 312.1 million. These metrics suggest a deepening commitment from token holders to secure the proof-of-stake consensus mechanism.

    ETH Price Reaction and Outlook

    At the time of reporting, ETH trades around $2,538, marking a 1.18% gain over the preceding 24 hours. The combination of stronger network usage, rising staking participation, and expanding tokenization activity could provide fundamental support for Ethereum’s long-term market position.

    Related: Strive Adds 469 BTC, Bringing Bitcoin Holdings to 25,000

  • BitMine’s Staked ETH Equals Nearly 12% of Ethereum’s Active Stake — Who Controls It?

    BitMine’s Staked ETH Equals Nearly 12% of Ethereum’s Active Stake — Who Controls It?

    BitMine Immersion Technologies Nears 12% of Ethereum’s Active Stake Without Validator Transparency

    BitMine Immersion Technologies has accumulated a staked $ETH position equivalent to nearly 12% of Ethereum’s active stake, yet the company has not disclosed which entities control the validators behind that stake. As of Sept. 7, BitMine reported 5.07 million $ETH staked, representing approximately 85% of its 5.93 million $ETH holdings and valued at roughly $12.6 billion based on prices in its latest filing. With about 43.03 million $ETH actively securing the network, BitMine’s staked amount translates to an 11.8% share of Ethereum’s active stake.

    Economic Exposure vs. Consensus Influence

    While the scale of BitMine’s economic exposure is clear, measuring its actual influence over Ethereum’s consensus requires details on how those assets are distributed among validator operators and who holds the signing keys used to propose blocks and attest to transactions. BitMine has not provided that breakdown.

    Its Sept. 8 operational update stated only that “a portion” of its $ETH was already staked through MAVAN, its institutional staking platform. The company also indicated that, at scale, it would stake $ETH through “MAVAN and its staking partners,” leaving the split between BitMine’s own infrastructure and outside operators undisclosed.

    BitMine’s Economic Stake Outruns Its Validator Disclosures

    The distinction grows more consequential as BitMine approaches its goal of owning 5% of Ethereum’s total supply and directs most of those holdings toward staking. Ethereum’s proof-of-stake system assigns consensus influence through validators, whose signing keys authorize block proposals and attestations. Ownership of the $ETH funding those validators does not by itself reveal who can exercise those duties.

    This separation matters because Ethereum’s security model becomes increasingly sensitive as signing authority concentrates. The network requires attestations representing two-thirds of staked $ETH to finalize checkpoints, while an operator controlling at least one-third could prevent finality by withholding its votes. BitMine’s 11.8% economic position remains well below that threshold. Public disclosures also provide no basis for assigning the full percentage to BitMine, MAVAN, or any single staking provider.

    Shifting Operator Relationships Add Complexity

    An earlier quarterly filing described BitMine as the principal node operator while also outlining its reliance on outside infrastructure. Its latest disclosures add further participants without showing how validator responsibilities are divided. BitMine ended a management-services agreement with Ethereum Tower on Sept. 3 and appointed its affiliate American Validator the following day to advise MAVAN Holdings. American Validator will receive a fee equal to 1.5% of rewards generated from company-staked $ETH, but the agreement does not identify it as the operator of the entire validator fleet or assign it signing authority.

    MAVAN’s documentation similarly separates the destination of withdrawn $ETH from validator operations, allowing users to designate where funds ultimately return while using its staking infrastructure.

    Need for Granular Validator Cohort Data

    A clearer concentration assessment would require BitMine to disclose the validator cohorts operated by each provider, their signing-key arrangements, and how infrastructure is distributed across software clients and hosting environments. Those details could become more important if BitMine continues expanding MAVAN beyond its own treasury.

    The company says the platform has grown to serve institutional investors, custodians, and ecosystem partners, potentially putting more third-party $ETH onto infrastructure associated with the BitMine staking business. For Ethereum investors, the next number to watch therefore extends beyond how much $ETH BitMine stakes. Its growing validator business will determine whether the company eventually provides enough operational data to show where the corresponding consensus authority actually resides.

  • Why Ethereum’s Exit Queue Hitting Zero May Not Be a Good Sign Yet

    Why Ethereum’s Exit Queue Hitting Zero May Not Be a Good Sign Yet

    Ethereum’s recent rally has pushed ETH sharply higher. The largest altcoin, which was trading near $1,900, climbed close to $2,500. At press time, ETH was trading at $2,459.03 after gaining more than 30% over the past 30 days.

    However, the price increase does not guarantee that Ethereum will continue rising. Data from the network’s staking ecosystem shows behavior that differs from what might typically be expected during a major rally.

    Rather than a rush to unlock and sell ETH, Ethereum is seeing continued commitment to staking.

    Ethereum staking shows limited exit pressure

    According to Ethereum’s Validator Queue, the ETH ‘exit queue’ has reached zero. The network currently has approximately 902,506 active validators, while around 42.4 million ETH is staked, representing 34.8% of the total supply.

    Source: Validator Queue

    This development comes even after Ethereum recorded a 70% price increase. Based on the current staking data, the ETH rally may still have room to continue.

    If validators expect ETH to appreciate further, exiting staking simply to sell after a 70% rally may not make sense. Stakers can also continue earning rewards for helping secure and operate Ethereum’s network while maintaining exposure to the asset.

    Ethereum validator activity in August

    In August 2026, the validator entry wait time fell from approximately 43–44 days to roughly 36 days, indicating that Ethereum’s large staking backlog is gradually clearing.

    Source: Validator Queue

    Meanwhile, the number of active validators began recovering after falling to approximately 880,000–881,000 in mid-July. During August, the count increased sharply from roughly 887,000 at the start of the month to more than 900,000 by late August, reaching approximately 902,000–903,000.

    Source: Validator Queue

    The recovery suggests that Ethereum’s validator base is expanding again, signaling strong staking participation and limited pressure to exit staking positions.

    Institutional Ethereum staking expands

    Ethereum’s largest DAT, Bitmine Immersion Technologies, has staked 5,067,309 ETH so far, with a value of approximately $12.4 billion. Shaprlink has staked more than 26,193 ETH in total.

    Fidelity has also announced plans for Ethereum staking and quarterly cash distributions, potentially adding another source of income to its spot ETF.

    Although Ethereum staking is attracting increased attention, Solana has a significantly higher staking participation rate, with approximately 68.3% of its supply staked. Around 421.8 million SOL is staked, generating yields of approximately 5.75%–6.5%.

    Despite Solana’s higher staking participation rate, the total dollar value of assets staked on the network remains considerably lower than Ethereum’s.

    Key Ethereum staking figures

    • Approximately 902,506 active Ethereum validators
    • Around 42.4 million ETH staked
    • Staked ETH represents 34.8% of Ethereum’s total supply
    • The validator entry wait time has fallen to roughly 36 days

    The continued growth in active validators and the absence of an exit queue indicate that many Ethereum stakers remain committed despite the asset’s recent 70% rally.