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#Coinbase Ranks As Second Largest $ETH Staking Entity As Lido’s Dominance Raises Concerns-

Prominent crypto exchange Coinbase has emerged as the second largest #ETH staking entity based on a recent scoop by Chinese reporter Colin Wu. This development comes amidst growing concerns about network #centralization in regard to Lido’s dominance in the ETH staking market. 

Coinbase Accounts For 14.1% Of ETH Staking Activity – Report

According to Wu, a report from Dragonfly data scientist hildobby, using data from Dune analytics, reveals that Coinbase presently has 3.873 million staked ETH, representing 14.1% of all staked ETH. 

Coinbase dominance in the ETH staking sphere is only superseded by that of the liquid staking platform, Lido DAO, which accounts for one-third of all staked ETH.