Ethereum 2.0 FTW: ETH Staking On LIDO, Rocket Pool, ANKR Is The Next Thing In Crypto

Ethereum is looking great in the market as the corrections seem to have come to an end. At the moment of writing this article, ETH is trading in the green and the second coin according to market cap is trading at $3,006.

The other day, we were revealing that after enduring weeks of macroeconomic-driven nervousness, crypto traders are focusing on progress within the crypto ecosystem.

They are particularly keeping an eye on smart contract blockchain Ethereum’s impending proof-of-stake merge and the bullish implications for its native token ETH.

“I am very bullish on ether for the summer as ether staking would offer returns better than real or inflation-adjusted yields in traditional markets after the merge.”

This is what Alex Kruger, a trader, and analyst, told CoinDesk in a Telegram chat.

Just to refresh your memory, last week Ethereum developers successfully tested the long-awaited merge of the programmable blockchain’s proof-of-work and proof-of-stake chains, dubbed Eth 2.0.

This will allow users to hold coins in a cryptocurrency wallet to support network operations in return for newly minted coins. Staking is analogous to passive investing.

“Through the merge with the proof-of-stake chain, fees previously earned by miners will pass on to being earned by those staking. This is expected to result in staking rewards between 7% and 12%,” IntoTheBlock said in its weekly newsletter published on Friday.

The most important staking services that you should know about these days include LIDO, ANKR, Rocket Pool, and StakeWise. Check out some important info about staking ETH on them below.

It’s important to note the fact that StakeWise allows for interest-bearing ETH deposits but uses a single-node system.

The project believes that it has been “flying under the radar” for some time because of that centralization.

Rocket Pool’s RPL token now sits at a $516 million market capitalization, and Lido’s LDO is at $368 million. StakeWise’s SWISE, meanwhile, has an $8.3 million market cap. ANKR flaunts an $609 market cap.