Coinbase Becomes Ethereum’s Largest Node Operator

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Crypto exchange Coinbase has become the largest node operator on the Ethereum network, managing 11.42% of the total staked Ether.

According to their performance report, Coinbase has staked 3.84 million Ether, valued at about $6.8 billion, with its validators. As of March 3, this accounts for 11.42% of the total staked ETH.

Anthony Sassano, host of The Daily Gwei, noted that this makes Coinbase the “single largest node operator” on the network. He also mentioned that although the staking platform Lido is larger collectively, each of its node operators controls a much smaller share.

Coinbase further disclosed that it exceeded its targets for validator uptime, reflecting the percentage of time validators are operational, and achieved a strong participation rate, indicating how effectively validators fulfill their consensus duties.