According to TechFlow, JPMorgan Chase (JPM) said in a research report on Wednesday that the Ethereum Shanghai upgrade scheduled for mid-March will increase the blockchain's staking rate in the medium term. Considering that the average ratio of other Proof of Stake (PoS) networks is about four times that, the 14% ratio still has a lot of room for growth.
Analyst Nikolaos Panigirtzoglou said, “Assuming that the staking rate converges to the 60% average of other major PoS networks over time, the number of validators could increase from 500,000 to 2.2 million, and the yield rate would drop from the current 7.4% to around 5%.”
JPMorgan said that a large part of the future increase in staking is likely to go to liquid staking protocols such as Lido. These protocols "provide liquidity to staked assets that would otherwise be locked in staking contracts by providing an equal amount of derivative tokens in exchange for tradable staked ether." In addition, it also stated that the derivative tokens of liquid staking protocols usually trade at a discount to their underlying assets, but as the Shanghai upgrade approaches, they are converging to parity with Ether (ETH). Original link
