Ethereum validators earned $46 million in the first week of May due to the increase in staking rewards rate.
According to the data, validators earned a total of 24,997 ETH. It is seen that there was a 40 percent increase compared to the previous week’s revenue, which was $ 33 million, when 18,339 ETH was distributed as a reward. The recent spikes of the new memecoin PEPE are thought to be the reason for the increase in validator rewards.
Ethereum Average Fees Outperform 100Gwei
Average fees on the Ethereum network exceeded 100gwei last week, reaching the highest level since May 2022.
As gas fees increased, users began paying over $30 per trade, resulting in higher returns for validators from transactions and regular validator rewards. Beaconcha.In data indicates that the current stake rate meets the expected annual return for validators.
To participate in the network’s consensus procedure, validators on Ethereum need to deposit at least 32 ETH worth about $58,000.
However, there are two types of reward systems that validators earn and are defined by the ETH Store. These can be shown as consensus rewards for recommending and confirming blocks, and transaction fees for confirming transactions on the Ethereum network.
In addition to these, according to another interesting data, staking transactions attracted great attention by institutions after Ethereum’s Merge and Shapella updates.
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