Demand for staking ether has surged, resulting in wait times of over a month for a 5% annualized yield as of Monday. Crypto investors looking to earn yields on their ether (ETH) holdings have to wait nearly a month before they can be set up as network validators on Ethereum.
Data from two sources show waiting times for staking ether lingers at 640 hours, or about 26 days. Exiting the network, on the other hand, takes just 0.013 hours, or less than a minute.
Validators are entities in a proof-of-stake blockchain, such as Ethereum, that process transactions and help maintain the overall security of such networks. As of May, nearly 50,000 validators are waiting in a “queue” to be able to enter the network,
data shows . The data indicates the demand for validators to enter the network and earn the nearly 5% annual yield. Such strong demand is likely stemming from large ether holders, who do not want to cash out and instead just want to earn some passive income on their holdings. headtopics.com
Some market watchers say these upcoming validators could be a mix of both new market entrants as well as stakers who previously unstaked ether from the network to test if the process works seamlessly and are now entering again.
Read more:
CoinDesk »
Some Buy Now Pay Later Users Face Rejection
It will be harder to get approved by apps Affirm, Klarna and Sezzle as the companies begin requiring higher credit scores and good payment histories from customers for retail purchases, groceries and Amazon. Read more >>
Holders Wydad Casablanca held at home in Champions League semi-finalSouth Africa’s Mamelodi Sundowns held out for a goalless away draw against holders Wydad Casablanca in Saturday’s first leg of their African Champions League semi-final despite playing most of the match down to 10 men and finishing with nine.
Shiba Inu Red Alert: 80% of SHIB Holders Suffer LossesSHIB holders massively suffer losses: Is the hype over for Shiba Inu? shibainu shib shibarmy shibarium shibaeternity shibburn $shib
10 Things That Delighted Us Last Week: Serpent Lighter Holders to Skin TintsAnd an orange peeler that divided Strategist Instagram followers.
Google’s AI tools embrace the dream of Clippy“It looks like you’re trying to write your entire paper with AI.”
One dead as tornado hits south Texas town near the Gulf coastAuthorities say one person was killed when a tornado struck the southernmost tip of Texas on the Gulf coast
At least one dead after reported tornado in south Texas near U.S.-Mexico borderPort Isabel Police Chief Robert Lopez reported one person killed when the storm struck the unincorporated community of Laguna Heights about 4 a.m. Saturday,
