![]() ![]() In total, the liquid staking market for ETH is worth $15.56 billion, which is approximately 40 percent of the value deposited by users to support the blockchain’s proof-of-stake. Some of the most popular liquid versions that have a parity relationship with ETH staked on the Beacon chain include Lido, Coinbase wrapped staked ETH, Rocket Pool and StakeWise. The crypto is actually priced the same as ETH (with a minimum spread) and can be traded for other assets on Binance’s internal market and other exchanges such as Okx, Huobi and PancakeSwap. This type of token can be redeemed at a 1:1 ratio with the amount of coins previously staked, now that the staking of ether on the Beacon Chain has been legitimised.īETH was launched by Binance in April 2021, and for two years served as a way for users to enjoy alternative liquidity while their ETHs were locked into the ETH 2.0 platform. The crypto BETH is just one of the liquid versions in circulation to support the staking of ETH and the transition from POW to POS that took place with the Shapella hard fork on 12th April. Crypto BETH and other liquid versions for ETH staking This fact, along with the ability of the user side to withdraw their staked ETHs more quickly, either directly on the ETH 2.0 platform or through intermediaries such as Binance, reinforces the narrative of the longevity and resilience of the Ethereum network.Īt the time of writing, the number of locked coins within the Beacon chain has reached a new all-time high of 19,767,969 ETH, easing selling pressure in the markets and creating scarcity. In recent days, the number of outgoing validators has also dropped to zero. Specifically, there are 41,455 validators waiting to join the Beacon Chain, in a queue that will be cleared in approximately 23 days, while on the other side there are only 40 validators who will have completed the exit process within the next half hour. It is curious to note that, in fact, new validator activations far outnumber exit requests these days. The decision to shorten the withdrawal processing timeframe is based on a commitment to providing the best end-user experience in a service where wait times are not only dependent on Binance, but also and most importantly on the traffic and participants within the Beacon Chain. #Binance will reduce the processing time for $ETH Staking withdrawals to 5 days from the original 15 days. ![]()
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