Coinbase, the largest cryptocurrency exchange in the United States, has published a first-of-its-kind report on Ethereum (ETH).
According to Coinbase’s Initial Ethereum Validator Report, Coinbase leads Ethereum staking with 11.42% share and 99.75% uptime.
According to the report, Coinbase has become the largest node operator on the Ethereum network, with 120,000 validators.
3.84 million Ethereum has been staked through Coinbase validators, accounting for 11.42% of the total staked ETH.
Coinbase validators achieved a high rate of 99.75% uptime and participation rate, exceeding network averages. At this point, Coinbase stated that they exceeded their 99% uptime goal without compromising security standards.
Despite being a centralized platform, Coinbase added that validators are distributed across multiple regions, including Japan, Singapore, Ireland, Germany, and Hong Kong, to support Ethereum’s decentralization.
While Coinbase pioneered Ethereum staking, the ETH price also rose above $2,000 again after the FED decision.
*This is not investment advice.
