Coinbase becomes Ethereum's largest node operator with 11% stake

A Coinbase study revealed that the crypto speech is the largest node relation connected the Ethereum network, controlling 11.42% of the full staked Ether.

In a show report, Coinbase said it had 3.84 cardinal Ether (ETH), worthy astir $6.8 billion, staked to its validators. The speech said that, arsenic of March 3, it has 11.42% of the full staked ETH. 

Anthony Sassano, big of The Daily Gwei, said that Coinbase's involvement makes the speech the “single largest node operator” successful the network. 

Sassano added that portion the staking level Lido is bigger arsenic a collective, each node relation has a overmuch smaller percent share. 

Source: Anthony Sassano

Related: 83% of institutions program to up crypto allocations successful 2025: Coinbase

Coinbase validator uptime and information complaint astatine 99.75%

Coinbase besides shared that it exceeded its people for validator uptime, which indicates the percent of clip erstwhile validators are operational. It besides had a akin fig for its information rate, a metric that indicates however good validators execute their statement duties.

Coinbase besides reported that its validators had an mean uptime of 99.75%. Coinbase said they outperformed their people of 99% uptime without compromising information standards. 

The speech attributed the show to an upgrade implemented successful 2024, which allowed the speech to support validators moving portion performing beacon node maintenance. 

Meanwhile, Coinbase validators’ information complaint is besides astatine 99.75%. This exceeds the web mean of 99.52%. In addition, the Coinbase mean for signing and submitting blocks produced by their MEV relays is 99.76%, higher than the web mean of 99.38%. 

While Coinbase operates a centralized speech platform, the institution said it distributes its validators crossed respective regions to “help support a genuinely distributed and decentralized Ethereum blockchain.” The speech said its validators run successful Japan, Singapore, Ireland, Germany and Hong Kong. 

Coinbase validator mean show versus Ethereum web averages. Source: Coinbase

Ether surges supra $2,000 connected March 20

Coinbase’s caller study was followed by a surge successful ETH prices arsenic ETH accumulation addresses started stockpiling significantly. 

7-day ETH terms chart. Source: CoinGecko

On March 2, Ether deed a play precocious of $2,060.73, surging by 12.3% successful 7 days. On March 19, the asset’s regular trading measurement reached $17.4 cardinal arsenic its terms surpassed $2,000. 

The surge comes arsenic ETH terms sentiments turned bearish. On March 11, Yuga Labs’ vice president of blockchain suggested that ETH could driblet arsenic debased arsenic $200 successful a prolonged carnivore market. 

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