Ethereum Staking Yield Fell to 2.63% as Fee Revenue Slid

Ethereum’s gross annualized staking yield averaged 2.63% in Q3, down from 2.81% in Q2, as active stake grew and fee and maximal extractable value (MEV) revenue weakened. The decline came even as more Ether (ETH) entered staking and the amount held by active validators reached a record. Consensus rewards accounted for 2.53 percentage points of the quarter’s average yield. Priority fees and MEV added 0.10 percentage points. The gross measure weights daily reward rates by active effective balance and excludes operator fees. Ethereum’s reward formula divides by the square root of total active balance.