Kraken’s new ETH 2.0 staking service has reached a major milestone of receiving deposits of over 100,000 ETH (over $60 million) within just four days of its launch. This indicates over 8% of ETH have been staked for ETH 2.0 on Kraken. As per data from, ETH 2.0 Launchpad there are currently 1.27 million ETH staked in total.
Over 100K ETH Deposited On Kraken’s ETH 2.0 Staking
While other popular crypto exchanges have also launched their own ETH staking, Kraken provides the best ETH staking service. For Instance, Coinbase’s staking services exclude users who do not use the Pro version of the crypto exchange. While with Binance’s ETH 2.0 staking service, users are rewarded with their own denominated BETH tokens.
Meanwhile, Kraken offers its users the opportunity to earn regular rewards on deposited USD and EUR. This is almost similar to like that of earning interest in a savings account.
In an announcement release, Jeremy Welch, Kraken’s VP of Product, said:
“We were one of the first exchanges to list Ether in August 2015. We have watched as Ethereum has continued to grow in significance. As of December 1, ETH trading volumes typically make up between 15-40% of our Bitcoin daily volumes.”
Kraken Provides ETH 2.0 Rewards Between 5% and 17%
Kraken said that the current earnings received from ETH 2.0 staking range between 5% and 17%. The platform also provides staking services for Polkadot, Tezos, Kusuma, and Cosmos with support for Flow coming soon.
Jeremy Welch continued:
“Our support for staking on Ethereum 2.0 will enrich client experience and reaffirm our commitment to support bleeding-edge innovation. At Kraken, we are thrilled to play our part just as Ethereum prepares for this bold step forward.”
Staking services provided by those of centralized exchanges enable a good opportunity to earn passive incomes for ETH holders. The only downside to this is that the cryptocurrency will still be under the control of centralized exchanges.