![]() ![]() Gemini Expands Outside the US Amid Increasing Regulatory ScrutinyĮarlier this week, Gemini said it plans to expand into the Asia-Pacific (APAC) region to capture the “next wave of growth for crypto.” The platform detailed that it aims to bring in more than 100 new employees to expand its current team in Singapore and establish an engineering division in India. Join our Telegram group and never miss a breaking digital asset story. Furthermore, there are currently 724,077 validators who are responsible for processing transactions and adding new blocks to the blockchain. The total circulating supply of ETH stands at 120.2 million, with 19.4% of all ETH being staked on-chain. That figure now stands at more than 23.1 million, a growth of roughly 200% over the past two years. There has been a net inflow of 3.8 million staked ETH ($6.9 billion) following the Shanghai upgrade, indicating that interest in Ethereum remains at an all-time high.įor context, there were only 8.2 million staked ETH equitable to roughly $15 billion when ETH reached its all-time high of $4,400 in November 2021. ![]() With ETH currently trading around the $1,879 mark, the stash of staked ETH is now worth more than $43 billion.Īlthough validators have had the opportunity to stake ETH for some time, growth only surged following the Shapella upgrade, which enabled withdrawals. It even claimed that Gemini would reimburse stakers for “certain penalties imposed in connection with staking.” ETH Staking Takes Off With Over 20M ETH Now StakedĮthereum has reached another milestone with over 23.1 million ETH staked, representing a sharp increase in staking adoption, according to a dashboard from Dune Analytics. “At Gemini, we simplify the staking process for you,” the platform said in the announcement. However, setting up a personal Ethereum node requires technical skills and knowledge. When staking, a token holder delegates their stake to a single validator. It is worth noting that users need some technical knowledge to participate in ETH staking. In exchange for staking, validators receive a portion of the transaction fees and newly minted ETH as rewards. Staking involves locking up a specific amount of ETH (usually a minimum of 32 ETH) as collateral for participation in the network’s proof-of-stake consensus algorithm. Gemini detailed that its staking service is already available in more than 30 countries. Gemini Trust Company provides the ETH staking program. ![]() In a Thursday blog post, Gemini announced that it had expanded the Gemini Staking Pro services to the UK, allowing institutions and high-net-worth individuals to become Ethereum validators by locking up at least 32 Ether. Gemini to Allow UK Investors to Become ETH Validators The move comes as the US-based cryptocurrency exchange has been aggressively expanding its services globally amid increasing regulatory hostility in the US. Gemini has launched Ethereum staking services for institutions and high-net-worth individuals in the United Kingdom. Please consult our website policy prior to making financial decisions. Neither the author, Ruholamin Haqshanas, nor this website, The Tokenist, provide financial advice. ![]()
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