Ethereum staking has surged to over 47 million ETH, representing a staking market cap of $66.9 billion and over 24% of the total Ethereum market cap of $275.8 billion. This indicates growing confidence in Ethereum's transition to a Proof-of-Stake (PoS) consensus mechanism.
The current estimated reward rate for Ethereum staking is 2.77%, meaning stakers are earning around 2.77% annually on their staked ETH. This reward rate has decreased from 3.62% 30 days ago, likely due to increased staking participation.
Ethereum's Beacon Chain, which runs the PoS consensus, has now reached over 32 million ETH staked, further demonstrating the network's growing adoption of staking. This surge in staked ETH signals that Ethereum users and investors are confident in the long-term success of the network's transition to PoS.