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Bittime - ETH (Ethereum) stakingreached more than 31.5 million Ether on Ethereum's proof-of-stake consensus layer, Beacon Chain, with a total value of $115 billion or around IDR 1.7 quadrillion. This amount of staked ETH represents nearly 26% of its total supply, involving more than 980,000 individual validators staking.
The soaring price of ETH (currently around $3,700) has pushed the total value of staked assets past $115 billion. This figure represents a significant portion of ETH's $440 billion market capitalization, while underscoring the magnitude of Ethereum's economic security.
Is ETH Staking Security Guaranteed?
In a proof-of-stake network like Ethereum, which has switched to PoS via The Merge, economic security plays a crucial role. The concept is that, to attack the network, for example by reversing transactions or carrying out a double-spend attack, an entity needs to control at least half of the total validator staking, or the equivalent of $57 billion.
That amount represents a significant financial barrier, making such an attack economically impractical.
The surge in ETH staking was significantly influenced by the Shapella upgrade in April 2023. This upgrade allowed users and validators to withdraw their staked ETH, thereby triggering an influx of over 11 million staked ETH post-upgrade.
In addition, the presence of liquid staking solutions such as Lido and Rocket Pool further facilitates staking by allowing staking in amounts of less than 32 ETH and the use of staked assets as collateral in DeFi. Currently, Lido Finance validators represent more than 31% of the total staked ETH.
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ETH/IDR Price Today on Bittime
Source: Bittime.com
On March 5, 2024, the price of Ethereum (ETH) was at IDR 58,432,786 per coin, up 6.68% in 24 hours, 6.20% in the last week and 15% in the last 30 days.
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ETH Staking Trend Becoming a Positive Trend?
Increasing ETH staking activity can be seen as a positive indicator for the future of the Ethereum network. This shows investors' confidence in the long-term viability and stability of Ethereum post-Merge.
Apart from that, staking also plays an important role in securing the network. The more ETH that is staked, the more difficult and expensive it is for malicious parties to carry out attacks on the network.
However, it is important to note that staking also has its own risks. One of them is the risk of slashing, where validators can lose some of their ETH if they behave inconsistently with the network protocol.
Additionally, there are risks associated with centralized staking providers (such as Lido), where users hand over control of their ETH to third parties. Therefore, it is important for users to conduct careful research before deciding to stake ETH, either independently or through a centralized staking provider.
ETH Staking Conclusion
ETH staking has become a fast-growing trend in the Ethereum ecosystem. The total value of staked ETH continues to increase, as investors gain confidence in the network and the benefits offered by staking. Increased ETH staking contributes to the security and stability of the network, making it more resistant to attacks.
Nonetheless, it is important to understand the risks associated with staking ETH before making a decision. Investors are advised to conduct careful research and choose a staking method that suits their risk profile.
How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR . To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH) , Bitcoin (BTC) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Ethereum Price Skyrockets After US Purchase on Coinbase, Buy ETH Now?
Ethereum Price Moves Towards $4,000: Will ETH/IDR Set a New Record?
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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