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1 June 2023
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Ethereum validators earn a record $46M as staking rewards rate surges

Validators earned $46 million in the first week of May due to an increase in the staking rewards rate, which is a metric for validators’ annualized yield. According to data, validators earned 24,997 Ether

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in the week, representing a 40% increase over the previous week’s income of $33 million, when 18,339 ETH were distributed as rewards.

Beaconcha.in states that the present staking rate signifies the anticipated annualized return for validators. In order to engage in the network’s consensus procedure, validators on Ethereum are mandated to stake a minimum of 32 ETH, valued at roughly $58,000.

There are two types of rewards identified by ETH Store, a company that measures reward rates: consensus rewards for proposing and attesting blocks, and transaction fees for processing transactions on the Ethereum network.

Since Ethereum’s network moved to a proof-of-stake consensus mechanism with the Merge in 2022, and following the recent Shapella upgrade enabling validator withdrawals for the first time, ETH staking has attained significant interest from institutions.

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