Ethereum Staking Reward Rate Runs To Record

Ethereum’s stake reward rate has been closely watched by the Ethereum community lately. With the increase in on-chain gas fees caused by the recent memecoin craze, Ethereum staking reward rates are also increasing. Ethereum’s staking reward rate has reached a record 8.6% after the merge this week, driven by the increase in gas fees with the recent memecoin craze.

The increase in the staking reward rate, which is a measure of the annual return of validators, reached $46 million in total revenue for validators in the first week of May. According to ETH Store data on the Beaconcha.in website, Ethereum validators earned 24,997 Ether (ETH) during the week. This figure represents a 40 percent increase compared to the $33 million revenue generated in the last week of April, when 18,339 Ether (ETH) was distributed as a reward.

The biggest factor in the increase in income is, of course, the increase in the trend in memecoin trading. Ethereum’s average fees consistently surpassed 100 gwei last week, reaching the highest level since May 2022.