Masood Sain
Crypto trader focused on spot markets, technical analysis, and risk management
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Tom Lee's BitMine pushes Ethereum into $8 billion staking backlog
New validators now need to wait more than 44 days to start earning staking rewards, the biggest backlog since late July 2023.What to know:
A surge in staking activity from large ETH holder BitMine Immersion (BMNR) is straining the Ethereum network, sending the wait time to become a validator to the longest since mid-2023.
There’s more than 2.55 million in ether – worth roughly $8.3 billion – currently waiting to be activated, translating into an estimated wait time of over 44 days before new validators can begin earning rewards.
The backlog could complicate the entry for ETFs and large players at a time when regulatory clarity is advancing around institutional staking.
A surge in staking activity from mega-ether holder BitMine Immersion (BMNR) is straining the Ethereum network, sending the wait time to become a validator to the longest since mid-2023.
There’s more than 2.55 million in ether ETH$3,207.00 – worth roughly $8.3 billion – currently waiting to be activated, translating into an estimated wait time of over 44 days before new validators can begin earning staking rewards.
#Write2Earn $ETH
A surge in staking activity from large ETH holder BitMine Immersion (BMNR) is straining the Ethereum network, sending the wait time to become a validator to the longest since mid-2023.
There’s more than 2.55 million in ether – worth roughly $8.3 billion – currently waiting to be activated, translating into an estimated wait time of over 44 days before new validators can begin earning rewards.
The backlog could complicate the entry for ETFs and large players at a time when regulatory clarity is advancing around institutional staking.
A surge in staking activity from mega-ether holder BitMine Immersion (BMNR) is straining the Ethereum network, sending the wait time to become a validator to the longest since mid-2023.
There’s more than 2.55 million in ether ETH$3,207.00 – worth roughly $8.3 billion – currently waiting to be activated, translating into an estimated wait time of over 44 days before new validators can begin earning staking rewards.
#Write2Earn $ETH
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