Solana Staking TVL Briefly Surpasses Ethereum, High Lido Liquid Staking Dominance Raises Centralization Concerns

BlockBeats News, April 21st, according to Cointelegraph's report, yesterday the total value of SOL tokens staked on the Solana network briefly surpassed the market cap of staked ETH on Ethereum. On-chain data shows that there are 505,938 unique wallets staking SOL worth $53.9 billion on the Solana network, with a staking annual percentage yield of 8.31%; on the Ethereum network, there are a total of 34.7 million ETH participating in staking, worth $53.93 billion.

The high staking threshold of 32 ETH (about $50,000) has led to a significant number of stakers shifting from node staking to liquid staking protocols, a key reason for the decrease in native staking on the Ethereum network. Currently, approximately $21.5 billion is staked in liquid on Ethereum, with Lido alone holding an 88% market share, intensifying concerns about Ethereum centralization. Ethereum developers are exploring solutions to promote decentralized staking.