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According to ARK Invest, Ethereum staking has become a benchmark for the so-called “crypto economy,” with a role similar to that of the US federal funds rate in the traditional economy. This is what emerges from a report published a few days ago on the official website of ARK Invest. The report by ARK Invest on Ethereum staking The report, published on Tuesday, is titled “Why Ether Stands Out Among Digital Assets,” and is specifically dedicated to Ethereum and its cryptocurrency Ether (ETH). The long report analyzes the role of Ethereum and ETH within the current crypto sector, stating that if Bitcoin (BTC) is a digital store of value, and the only digital asset with a monetary policy based solely on rules, ETH, on the other hand, is emerging as an institutional-level asset with yield generation potential. In September 2022, Ethereum abandoned Proof-of-Work to switch to the more streamlined Proof-of-Stake, which allows staking. Staking, in turn, generates a yield, in ETH, for those who place their ETH on a validator node that validates transactions.  According to ARK Invest, ETH now seems to have unique and distinctive characteristics that position it as a “benchmark indicator” within the digital asset space. And so it ends up playing a fundamental role in private and public financial markets, influencing the monetary policy of adjacent networks and digital applications, and measuring the health of the digital asset ecosystem on a large scale.  Ethereum staking: a benchmark for crypto according to ARK Invest Staking on Ethereum began precisely in September 2022 with the transition to Proof-of-Stake, although it was already possible a few months earlier on the testnet.  At this moment, there are in total more than one million validators, with almost 34 and a half million ETH in staking, on a total circulating supply of…

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Filed under: News - @ October 18, 2024 10:25 am