Staking Growth and Saturation

The total amount of staked Ethereum has surpassed 35 million ETH. The network saw its staked supply grow from 15 million to 25 million over approximately one year, with continued growth pushing it to its current level. As participation increases, analysts anticipate that the amount of staked ETH may soon enter a period of dynamic balance, where the rates of new staking and unstaking begin to level off.

A Look at Hosting and Client Diversity

An analysis of hosted execution client nodes reveals a significant concentration among a few major cloud service providers. Amazon Web Services (AWS) leads the market, hosting 35.53% of these nodes. Following AWS are the German provider Hetzner Online at 13.75% and the French provider OVHcloud at 9.69%. Google Cloud and Oracle Cloud round out the top five with 7.02% and 2.37%, respectively. This distribution highlights a geographic focus on the United States and Europe.

The landscape for consensus layer client nodes is nearly identical, with the same five companies dominating the top positions. When all factors are considered, the proportion of all Ethereum nodes hosted on AWS is estimated to be around 20%. While this represents a significant share, the overall ecosystem of over 10,000 execution nodes and nearly 9,000 consensus nodes shows a healthy distribution across different regions and network services.

The primary centralizing risk remains in the choice of client software, where a few clients hold a majority share. However, this dominance is gradually decreasing as the Ethereum Foundation and community actively promote client diversity. These ongoing efforts are crucial steps toward strengthening the network’s decentralization and resilience.