ETH2 staking rewards have dropped to 3.675% on Coinbase

Following ALGO’s drop in rewards, ETH staking rewards on Coinbase have now dropped from 4.5% APR to 3.675% APR (showing as 3.68% on the app). This is as a result of direct staking going from 4.7% to 4.6%.

There are now 12,000 validators of ETH2, which requires 32 ETH. Coinbase is pooling ETH customer holdings and stakes it on their behalf.

This drop in APR continues the downward trend, with staking rewards dropping from a high of 6% APR in April 2021. The more ETH that gets staked, the lower the APR will go.

Conversely, DAI staking rewards have gone up this year, from 2% APY to 2.7% APY