Ethereum Staking Shows Net Outflow Despite Stable APR
Written with artificial intelligence.
Ethereum's staking market has experienced a net outflow of funds over the past week, with the total staked amount reaching approximately 43.62 million ETH, representing 34.94% of the total supply. The annual percentage rate (APR) for staking has remained steady at around 2.58% to 2.6%.
Current Staking Trends
The Ethereum staking market has seen a consistent outflow of deposits recently, as evidenced by the latest data. As of September 28, Dune Analytics reports that the total amount staked on the Ethereum network stands at 43,624,742 ETH. This amount constitutes 34.94% of Ethereum's total supply. Since the Shanghai upgrade, the cumulative net inflow for staking has reached 21,319,954 ETH, while the net inflow excluding rewards is 25,448,034 ETH.
Deposits and Withdrawals
Between September 21 and September 27, there were 48,613 ETH in new deposits into the Ethereum staking market. Notably, the highest deposits occurred on September 25 (17,802 ETH) and September 26 (13,589 ETH). However, during this same period, withdrawals included 13,876 ETH in rewards and 163,491 ETH in principal, leading to a total net change of approximately -128,754 ETH. This indicates that while new deposits continue, they are significantly outweighed by withdrawals.
Stability of APR
The staking annual percentage rate (APR) has fluctuated slightly within a narrow range, consistently hovering around 2.58% to 2.6% in recent days. Specifically, the APR was recorded at 2.58% on September 21, then rose to 2.59% on September 22, peaked at 2.6% on September 26, and returned to 2.58% by September 28. Overall, the staking yield remains stable in the mid-2% range.
Validator and Queue Data
Currently, there are approximately 888,821 active validators in the Ethereum network. The entry queue for new staking participants holds 159,6087 ETH, with an estimated wait time of about 27 days and 17 hours. Conversely, the exit queue has 161,264 ETH with an expected wait time of 2 days and 19 hours. Additionally, the average sweep delay for funds moving to actual withdrawal addresses is around 7.7 days.
Leading Staking Providers
Among individual stakers, Lido holds the largest share with 9,507,603 ETH, representing about 21.7% of the total market. Binance and Etherpool follow with 3,273,297 ETH (7.5%) and 1,689,776 ETH (3.9%), respectively. Other notable providers include Kraken with 1,646,575 ETH (3.8%) and Coinbase with 154,103 ETH (3.5%).