In recent news, Token Unlock has reported that the current annualized rate of return for staking Ethereum ($ETH) is at a historical high of 8.6%. This is a result of the successful implementation of the Shanghai upgrade, which has seen a significant increase in the amount of $ETH deposited into ETH2.0 contracts.
Since the Shanghai upgrade, 3.4 million ETH has been deposited into ETH2.0 contracts, while 2.67 million $ETH has been withdrawn. This has resulted in a net pledge of 734.92k $ETH, which is worth around $1.4 billion.
The stETH APR has also been pushed up to an all-time high of 8%, thanks to the surge in $ETH deposits. This is excellent news for ETH stakers, as they can earn more rewards for their participation in the network.
The Shanghai upgrade was a critical milestone for ETH2.0, as it introduced a host of new features and improvements to the network. These improvements include the introduction of the “proof-of-stake” consensus mechanism, which replaces the “proof-of-work” mechanism used in the original Ethereum network.
