Update
Ethereum Staking Demand
Ethereum ended the third quarter with 43.8 million ETH staked, representing nearly 36% of its total supply. Despite the growth in staked ETH, the annualized staking yield has declined from 2.81% to 2.63%, and there is a significant demand imbalance with 1.39 million ETH waiting to be staked. Institutional investors, including staking ETFs, are driving inflows, while concerns over falling yields and network revenues prompt discussions among developers about potential changes to staking incentives.