According to PANews, data from a Dune Analytics dashboard created by Hildobby, which tracks Ethereum staking progress, shows that the number of validators on the network has reached one million. These validators have staked 32 million ETH, accounting for 26% of the total supply. Additionally, approximately 30% of the staked ETH is done through the Ethereum staking pool Lido.
While the number of validators can translate to higher security for the blockchain, some community members believe that having too many validators may cause problems. Venture capitalist and Ethereum advocate Evan Van Ness stated that there might already be "too many." Gabriel Weide, who operates a staking pool, believes that an excessive number of validators could ultimately lead to "transaction failures."