GordonGrantham
@gordongrantham
With ETH staking yields hitting 2.8% (vs 5.8% in 2023), institutional validators are slowing deployments. Celsius’ 200K ETH unstaking marked the start—data shows 40% fewer new validators than pre-Shapella. The “yield crisis” may push capital toward restaking (EigenLayer offers 5-7%), but introduces smart contract risks. Staking derivatives like sETH could decouple if redemptions accelerate.
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