ChainCatcher news, according to The Block, a team led by JPMorgan analyst Nikolaos Panigirtzoglou said in a report that the increase in Ethereum staking since the merger and Shanghai upgrade has come at a cost because the Ethereum network has become more centralized. , the overall staking return also dropped.

The main contributors to staking growth are liquidity staking providers such as Lido. JP Morgan analysts said: “The top five liquidity staking providers control more than 50% of the staking on the Ethereum network, with Lido accounting for nearly one-third. There is a high degree of centralization involved. The total staking return has increased from 10% before the Shanghai upgrade. 7.3% down to about 5.5% currently.”