Everything you need to know about ‘developed’ Ethereum’s (almost) 300K validators

Everything you need to know about ‘developed’ (almost) 300K validator nodes from Ethereum networks

The crypto market has undergone significant price corrections since the geopolitical uncertainties of Eastern Europe gripped the world. However, Ethereum has recovered after dropping nearly $2300 on the charts on Feb. 24. During writeETH traded above $2700 after losing just 1% in the past week.

Meanwhile, it’s worth noting that the network has also signed up (nearly) 300,000 validator nodes as it makes its ultimate proof-of-stake shift. The numbers for the same, on February 26, were 299,998.

Furthermore, the amount of Ethereum deployed has also surpassed 9,596,399 ETH, while the network has 65,400 unique depositors

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With the milestone approaching, there were once again community members pushing for the idea of ​​decentralization and customer diversity, especially with pools.

Also worth noting is the strike APR (Annual Percentage Rate). As the Shanghai upgrade takes shape on the network, the merger of the Ethereum mainnet with the Beacon Chain is expected in the second quarter of this year. And the Shanghai hardfork will be a crucial upgrade to merging ETH. Especially after the ETH2 terminology has been phased out prior to fusion into one chain.

Meanwhile, Coinbase expects strike revenues to rise from 4.3-5.4% APR to 9-12% APR after the merger. This is because more rewards are going to the increasing validators on the network. Much like how fees are allocated to the miners in the PoW ecosystem, on strike, transaction validation will take place on PoS.

That said, Chris Burniske, co-founder of Placeholder, considers ETH, along with BTC, a mature market. He recently took Twitter to call the rest of the market ’emerging’ while the two projects are called ‘developed’.

Unfortunately, ETH’s gas rates remain high and volatile. In the last 24 hours alone, the network has paid 4.35k ETH in total gas costs. At the time of going to press, median gas prices were close to 30, then witness a major spike to 135 ETH a few hours ago.

Meanwhile, major ETH competitors are taking bigger strides in the market and eating their share. Ethereum, which dominated over 70% of the DeFi TVL just a few months ago, currently checks 54.78% in terms of total locked value.

As for price, co-founder Vitalik Buterin doesn’t seem too concerned about the crypto bear market. in a interview with Bloomberg, Buterin argued that the crypto price decline could support project sustainability. He added,

“The people who are deep into crypto, and especially building things, many of them welcome a bear market.”

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