Ethereum's 13,900 nodes are running 1 million validators, with 26% of the supply staked

The Ethereum network now has more than 1 million validators, which are staking more than 32 million of its native coin ether.

The increase in validators is needed to allow the nodes to stake more ether on the network. These validators are staking over 32 million of ether, worth more than $114 billion at current prices. This accounts for roughly 26% of the total supply, according to The Block's Data Dashboard.

Staking platform Lido — which allows users to stake smaller amounts of ether — accounts for around 30% of the staked ether, according to a Dune Analytics dashboard created by Dragonfly researcher known as Hildobby. Evan Van Ness, formerly the "Chief Decentralization Officer" at the Ethereum Foundation, posted on social media platform X that there's "arguably already too much staked."

"The number is impressive but artificially inflated by the 32 ETH cap," Coinbase Wallet creator Peter Kim argued, adding: "That will change soon though."

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