Nansen analysts worry that much of the ether staking is controlled by a small group of people at Lido Finance who are not particularly keen on asset decentralization.
Most of the staking on the Ethereum network is controlled by five crypto exchanges, experts conclude. Of all Ethereum (ETH) coins in circulation, only 11% is staking: 65% liquid and 35% illiquid. The total number of validators is now 426,000, contributors – 80,000.
Almost 30% of all ETH in circulation is held by the three largest crypto exchanges – Binance, Coinbase and Kraken. Another 31% is accounted for by the liquid rates service Lido Finance. It is a Decentralized Autonomous Organization (DAO) launched in December 2020. A small percentage, 3.92%, controls the startup Staked, which provides investors who wish to participate in staking with all the necessary structure.
According to analysts at Nansen, Lido controls a significant portion of ETH rates, and in order to remain resistant to transaction censorship, the platform needs to increase its decentralization. Now Lido (LDO) tokens are concentrated in the hands of a group of large holders, which carries risks for the entire network. According to experts, the top nine addresses in the DAO still control 46% of the organization, despite the fact that the Lido community has long been trying to solve this problem.
Earlier, Nansen reported that NFT market participants spent 963,227 ETH to issue NFTs during the first half of 2022, which is approximately $2.7 billion.
Source: Bits
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