Amidst the recent surge in Ethereum’s price, an analysis posted on X shows the blockchain’s token supply has diversified in recent years, capturing increased projects and applications in its ecosystem.
Version 2 of my (incomplete) break down of Ethereum Supply – Even the ETH token is distributed 🌊
⬇️ See Below ⬇️
🌊 V1 Comparison
🌊 New Additions & Improvements
🌊 Grant Application
🌊 Sources & Thank-Yous
🌊 Feedback RequestedFollow for more stats and visuals 🏄♂️ pic.twitter.com/mxB5hbZwAs
— Eth Wave 🦇🔊🌊 (@TrueWaveBreak) November 29, 2023
Indeed, the analysis posted by an X user @TrueWaveBreak showed that ETH staking continues to dominate the token’s supply. Per the post, liquid staking platform Lido’s share of the token supply far outpaces other segments of the Ethereum ecosystem. As noted on Lido’s website, over 9,298,195 ETH worth $20,951,872,661 are presently staked on the platform.
Furthermore, crypto exchange Binance remains the top leader in terms of ETH token supply on centralized exchanges (CEX). Coinbase sits as a close second, followed by Bitfinex and Robinhood. Per the statistics, CEX ETH supply continues to grow, alongside an increase in staking activities on these platforms.
Meanwhile, crypto unicorn Figment takes a sizeable share of Ethereum staking pools, followed closely by Kiln and Staked.us. In the layer-2 segment, Arbitrum One sits atop that segment’s ETH token supply share. The platform’s ETH supply far outweighs that of rivals Optimism, zkSync-era, and Base. Additionally, the analysis showed Maker to be the leader in the Wrapped ETH part of the Ethereum ecosystem.
Elsewhere, CoinMarketCap data shows a considerable increase in Ethereum’s price heading into the week. In a rise that started on Sunday, Ethereum’s price has added a 4.14% price gain in the previous 24 hours at the time of press.
The surge follows increased speculations about a possible crypto bull rally expected to happen next year and pushed by an anticipated spot Bitcoin ETF approval. At the time of press, the broader crypto market has seen a 4.54% rise to sit at $1.55T.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
