Ethereum staking data ahead of Shanghai: validators and market share
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Data thread before the Shanghai upgrade using a 21Shares Dune dashboard: validator and depositor counts, about 15% of supply staked, and market share across pools, liquid staking, CEXes and home stakers. Lido stETH dominates liquid staking.
Key claims
Over 550k validators and about 15% of ETH supply staked
Liquid staking protocols hold 36% of staking, CEXes 27%
Lido stETH has 77.1% of liquid staking derivatives, Coinbase cbETH 16.6%
🚨 the $ETH #Shanghai upgrade is just a few days away
the #Shanghai upgrade will be a significant milestone for #Ethereum, making it possible for stakers to withdraw their staked $ETH and the staking rewards 💰
time to have a quick look at $ETH staking data 🧵👇
key Implications for the #Shanghai upgrade:
🔹 partial and full withdrawals for stakers
🔹 reduces the liquidity risk for staking $ETH
🔹 marking the complete transition from PoW to PoS
as the @DuneAnalytics dashboard by @21Shares linked below shows, the $ETH PoS network has some strong stats
📊 >100k unique deposit addresses
📊 >550k validators
📊 >18bn $ETH staked
📊 >33bn USD value staked
very high degree of decentralization
while the USD value has fluctuated due to market movements, the amount of staked $ETH has steadily increased since November 2020
in total, about 15% of $ETH supply is staked
the staking market is divided among 4 types of players
🔹 staking pools (15% market share)
🔹 liquid staking protocols (36%)
🔹 CEX (27%)
🔹 home-runners/unidentified (22%)
among the CEXes, the leaders are
🥇 @coinbase (46.3%)
🥈 @krakenfx (25.2%)
🥉 @binance (20.9%)
among the liquid staking derivatives, a.k.a. #LSD, the clear leader is @LidoFinance's $stETH
🥇 @LidoFinance - $stETH (77.1%)
🥈 @coinbase - $cbETH (16.6%)
🥉 @rocket_pool - $rETH (3.4%)
hope you enjoyed this data-driven look at $ETH staking 📊🔍
#Shanghai is an important milestone for $ETH 🚀
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Prices as of 23 Oct 2026This data piece reports the numbers without making a call on the token, so price moves since publication are shown as market context.
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