Coinbase Becomes Largest Node Operator on Ethereum Network

According to a company report, Coinbase has become the leading node operator on the Ethereum blockchain, controlling 11.42% of the total staked ETH.

As of March 3, the exchange has approximately 3.84 million ETH, valued at $6.8 billion, locked in its validators.

Anthony Sassano, host of The Daily Gwei, pointed out that while Lido holds a larger collective stake, Coinbase has the largest individual share among single node operators on the network.

Additionally, Coinbase reported outstanding performance metrics, achieving a validator uptime of 99.75%, surpassing its goal of 99%. This success was attributed to a 2024 upgrade that improved validator operations during beacon node maintenance.