Undoubtedly, Ethereum’s leading position among public chains remains unshakable. So holding and staking ETH on crypto exchanges would be a wise decision to earn stable passive income. Let us take Huobi Earn as an example.
Faster and more cost-efficient post-Cancun: A boom for Layer 2 narratives
According to the summary of the 160th Ethereum All Core Developers Execution (ACDE) call, the core of the Cancun upgrade lies in the Ethereum Improvement Proposal (EIP) 4844.
EIP-4844 aims to implement the temporary storage and retrieval of off-chain data through Ethereum nodes to meet the data storage needs of blockchain applications. After the Cancun upgrade, Ethereum L1 data will be moved into a new temporary ‘Blob’ storage. Blobs are cheaper with larger space, allowing Ethereum to handle more data, increase transactions per second (TPS), and reduce costs.
In this case, EIP-4844 is expected to mitigate the cost of Layer 2 rollups. This cost reduction will ignite the breakout of the Layer 2 ecosystem, expanding Ethereum’s advantages and narrowing the window of opportunity for other Layer 1 chains.
Indeed, this upgrade will be a game changer. It will make Layer 2s cheaper and faster, benefiting not only Layer 2 protocols but the overall ecosystems will be geared for meteoric growth. We can see that the Layer 2 space is playing a key role for the next bull run.
Stake ETH with Huobi Earn and get ready for a long-lasting bull run
To embrace the Cancun upgrade, Huobi Earn is introducing several passive income products, including ETH 2.0 Staking, ETH Flexible, and BETH Flexible.
Long-term holding and staking ETH can get you more stable returns than investing in Layer 2 projects. For Ethereum strong believers, opting to stake ETH with Huobi Earn can yield potential profits.
According to Huobi’s official data, ETH 2.0 Staking offers users an APY of up to 5.41%, with a low investment threshold and stable earnings. 100% of on-chain rewards generated by ETH 2.0 Staking are directly given to users. You can stake ETH easily without losing the flexibility to sell BETH, a tokenized asset representing your staked ETH, anytime you wish.
Huobi’s ETH Flexible and BETH Flexible products provide impressive APYs of up to 6% and 5%, respectively, with easy-to-use operations and diversified choices.
It is reported that Huobi Node has been operating properly as an Ethereum PoS verifier for two years, witnessing a couple of milestones such as The Merge, the rise of MEV, and the Goerli testnet preview. As the Cancun upgrade approaches to enhance Ethereum’s competitiveness, Huobi will continue to keep a close eye on the development of Ethereum’s ecosystem and aim to provide exceptional investment experiences for its users.
