TechFlow reports, citing The Block, that Ethereum stakers' income has shown a gradual decline as of October 16, 2024. Total revenue in September reached $174 million, down approximately 30% from the peak of $247 million in March, reflecting the overall bearish sentiment in the cryptocurrency market.
Data indicates that staking income has been steadily declining since March, primarily due to reduced on-chain activity and diminished market enthusiasm. Of September's staking revenue, only $35.5 million came from transaction fees, highlighting a heavy reliance on block subsidies.
Despite declining income, the number of validators continues to grow. Ethereum currently has 1.09 million validators, indicating sustained enthusiasm for participating in network security.
