Coinspeaker
Ethereum Network Hits Record High of 1 Million Validators with $114B Staked

The number of validators on the Ethereum network has hit 1 million, a new high for the blockchain. In total, the validators have staked 32 million Ether, worth around $114 billion at current market prices.

According to data from Dune Analytics on Thursday, the validator count is exactly 1,002,400, with precisely 32,076,797 ETH staked. This translates to 26.74% of the entire ETH supply.

Lido Has the Highest Number of Validators

The Dune Analytics dashboard also displays further information, including showing Lido as the Ethereum staking pool with the highest volume of staked tokens, at 30%, with more than 9.6 million ETH staked, and 302,000 validators. Coinbase is in the second position with 14%, 4.5 ETH and 141,000 validators, while Binance is the third-largest but well below Coinbase. Binance has 39,000 validators who have staked 1.24 million ETH, 3.9% of the total supply.

Validators are necessary for the function of proof-of-stake (PoS) blockchains. Essentially, they validate transactions, create new blocks, and are responsible for network secu...