[Staking weekly] Ethereum staking reaches 43.94 million ETH; APR at 2.47%

Ethereum staking totaled more than 43.94 million ETH, representing 35.20% of supply. Weekly net outflows reached 377,100 ETH, while the latest staking annual percentage rate (APR) stood at 2.47%.

Withdrawals outweighed new deposits over the latest weekly reporting period, while staking returns remained within a narrow range.

Dune Analytics data available on October 26, with a staking snapshot dated October 15, showed total staked ether at 43,943,968 ETH, equivalent to 35.20% of supply.

Cumulative net inflows since the Shanghai upgrade stood at 21,615,194 ETH. Excluding rewards, cumulative net inflows totaled 25,782,748 ETH.

From October 9 through October 15, new staking deposits totaled 34,128 ETH. The largest daily deposits came on October 9, at 12,595 ETH, followed by October 13, at 6,294 ETH.

Over the same period, reward withdrawals totaled 14,292 ETH and principal withdrawals reached 396,937 ETH.

The resulting net outflow was 377,100 ETH. Principal withdrawals substantially exceeded new deposits across the reporting period.

Ethereum staking flows / Dune Analytics

Staking APR remained narrowly confined through October 25. It registered 2.46% on October 18, October 19, October 20, October 21, October 22, October 23 and October 24, before reaching 2.47% on October 25.

Across that period, annual staking returns held within a rounded range of 2.46% to 2.47%.

Queue data updated on October 25 showed approximately 817,312 active validators. The entry queue contained 1,295,920 ETH, with an estimated waiting time of 22.97 days.

The exit queue contained 913 ETH, with an estimated waiting time of 1.11 days. The average sweep delay—the time required for funds to reach withdrawal addresses after exit—was 7.1 days.

Staking shares by participant / Dune Analytics

Lido led individual staking providers with 9,466,303 ETH, accounting for approximately 21.5%.

Binance ranked second with 3,273,297 ETH, or 7.4%, followed by ether.fi with 1,754,376 ETH, or 4.0%.

Kraken held 1,640,879 ETH, or 3.7%; Coinbase held 1,433,710 ETH, or 3.3%; and Figment held 1,315,667 ETH, or 3.0%.

[Editor's note] Ethereum moved to proof of stake in September 2022, allowing participants to stake 32 ETH to operate a validator and earn rewards. The Shapella upgrade enabled withdrawals in April 2023. Liquid staking services such as Lido and Rocket Pool allow smaller deposits and provide tokens that can be used in decentralized finance. Deposits, withdrawals, validator counts and reward rates together help describe Ethereum's staking activity.