Coinbase loses Ethereum staking market share amid U.S. regulatory pressure

Coinbase’s share on the Ethereum staking market has declined amid pressure from U.S. regulators.

According to data on the Dune Analytics dashboard, the exchange accounts for 9.9% of the total staked Ether. This is the lowest figure since May 2021.

On June 6, the U.S. Securities and Exchange Commission (SEC) filed a civil suit against the exchange. Among other things, the regulator targeted the Coinbase Earn staking program.

In recent days, the exchange has held a leading position in withdrawal volumes from the service across various time frames.

The ability to unlock staked cryptocurrency in the network appeared following the activation on April 13 of the Shapella hard fork.

The volume of assets in staking continues to rise — reaching 23.27 million ETH, or 19.35% of the total supply. However, the combined share of centralized exchanges in the market is shrinking. They account for 19.3% versus 43% in June 2021.

Against this backdrop, the popularity of liquid staking services such as Lido Finance—which already holds more than 35% of locked coins—is growing.

Gemini expanded the Staking Pro program for wealthy clients to the United Kingdom.