727 FinancePANews October 31 news, according to CoinDesk, institutions are still increasing crypto staking despite declining yields. Bitwise data shows that Ethereum staking reached 43.8 million ETH, accounting for 35.9% of total supply, a record high; Solana active staking rose to 440.5 million SOL. However, the total staking yields on both networks declined: Ethereum's average annualized total staking yield in the third quarter fell to 2.63%, while Solana's dropped to about 6%.
Bitwise said Ethereum saw net staking inflows of 1.99 million ETH in the third quarter, the sixth consecutive quarter of net inflows. A larger staking base has pushed down returns. Coinbase said staking ETFs and digital asset treasuries are expanding participation channels. A Payward executive, the parent company of Kraken, said staking is usually countercyclical, with holding behavior increasing when the market is weak, pushing up staking demand and suppressing yields. Kean Gilbert, head of institutional relations at the Lido Ecosystem Foundation, expects that in five years people will ask why they ever held unstaked ETH.