Solana's staking market capitalization briefly surpassed Ethereum, raising concerns about centralization due to Lido's high share of liquid staking.

2025-04-21 04:17:50

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BlockBeats news, on April 21, according to Cointelegraph, the total value of SOL tokens staked on the Solana network briefly surpassed the market capitalization of staked ETH on Ethereum yesterday. On-chain data shows that there are 505,938 independent wallets staking SOL worth $53.9 billion on the Solana network, with an Annual Percentage Rate of 8.31%; on Ethereum, there are a total of 34.7 million ETH participating in staking, valued at $53.93 billion. The high validation threshold of 32 ETH (approximately $50,000) has led many stakers to shift from node staking to liquid staking protocols, which is a key reason for the decrease in native staking on the Ethereum chain. Currently, approximately $21.5 billion in funds are participating in liquid staking on the Ethereum chain, with Lido alone holding 88% of the market share, exacerbating concerns over Ethereum’s centralization, while Ethereum developers are exploring solutions to promote staking decentralization.

SOL-2.47%

ETH-0.57%

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