Solana Staking Market Value Temporarily Surpasses Ethereum; High Lido Liquid Staking Share Raises Centralization Concerns

According to Jinse and Cointelegraph, the total value of SOL tokens staked on the Solana network temporarily surpassed the market value of staked ETH on Ethereum yesterday. On-chain data shows that there are 505,938 independent wallets staking SOL worth $53.9 billion on the Solana network, with an annualized staking yield of 8.31%; Ethereum's on-chain staking involves 34.7 million ETH, valued at $53.93 billion. The high validation threshold of 32 ETH (approximately $50,000) has led many stakers to shift from node staking to liquid staking protocols, which is a key reason for the reduction in native staking on the Ethereum chain. Currently, about $21.5 billion in funds are involved in liquid staking on Ethereum, with Lido accounting for 88% of the market share, heightening concerns over centralization. Ethereum developers are exploring solutions to promote staking decentralization.