Ethereum validators earn a record $46M as staking rewards rate surges

Validators earned $46 million in the first week of May due to an increase in the staking rewards rate, which is a metric for validators’ annualized yield.

Since Ethereum’s network moved to a proof-of-stake consensus mechanism with the Merge in 2022, and following the recent Shapella upgrade enabling validator withdrawals for the first time, ETH staking has attained significant interest from institutions. 

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