Coinbase holds 11% stake in Ethereum network, leading to surge in Ether price

From Cointelegraph

March 20, 2025 4:57 am:

Coinbase holds 11.42% of total staked Ether on the Ethereum network, amounting to 3.84 million ETH valued at $6.8 billion. It is now the largest node operator on the network, surpassing other platforms like Lido. Anthony Sassano noted that while Lido is bigger collectively, each node operator has a smaller share. Coinbase’s validator uptime and participation rate exceed targets, with an average uptime of 99.75% and a participation rate matching it. The exchange credits an upgrade in 2024 for this success, enabling validators to run smoothly during maintenance. Coinbase’s validators are spread across various regions to maintain a decentralized Ethereum blockchain. Following Coinbase’s report, Ether surged above $2,000 on March 20, hitting a weekly high of $2,060.73 with a 12.3% increase in seven days. The daily trading volume reached $17.4 billion as price sentiments turned bearish, suggesting a potential drop to $200 in a prolonged bear market.

Read more at Cointelegraph: Coinbase becomes Ethereum’s largest node operator with 11% stake