ETH pledge APR of Ethereum beacon chain dropped to 3.6%, which has continued to decline in the past three months
On February 28, according to the data on the official website of Ethereum, the APR (annual rate of return) of ETH pledge of Ethereum beacon chain has dropped again, and has now dropped to 3.6%, which has been in a downward trend in the past three months. Historical data show that the index fell below 4% on November 14, 2022 and fell to 3.8% on November 28, and then fell to 3.7% on January 23, 2023. In addition, the current total number of verifiers of the Ethereum beacon chain has exceeded 530000, reaching 530726.
Interpretation of this information:
The message reports a decline in the annual rate of return (APR) of ETH pledge on the Ethereum beacon chain, as per the official website data of Ethereum. The current rate has fallen to 3.6%, which has been consistently declining for the past three months. The historical data reveals that the APR had dropped below 4% in November 2022 and touched 3.8% on November 28. Further, on January 23, 2023, it decreased to 3.7%. Alongside, the message also notifies that the number of verifiers on the Ethereum beacon chain has exceeded 530,000 and stands at 530,726.
The decrease in the APR of ETH pledge indicates that the rewards for stakers have reduced over time. The decline in the APR can be attributed to several factors, including the increasing number of validators, decreasing demand for Ether, and the market trend. Ethereum, like other cryptocurrencies, is subject to market volatility, and the declining trend of APR may be due to the bearish market conditions. Additionally, the increase in the number of validators reduces the chances of getting rewards for individual stakers, which can lead to lower returns.
The increase in the number of verifiers on the Ethereum beacon chain is a positive sign for the network as it represents growing support for the blockchain. A high number of validators can contribute to network security, reduce the possibility of centralization, and improve the network’s robustness. The increased number of validators on the Ethereum beacon chain may also be due to the growing preference for staking over mining, as staking offers a lower barrier to entry and a more energy-efficient method of participating in the network.
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