While more validators could mean more security, community members think too many could be problematic.
The Ethereum network recently hit the one million validator milestone, with 32 million Ether (ETH) currently staked, valued at approximately $114 billion based on current market prices.
On March 28, the Dune Analytics dashboard created by Hildobby to track Ethereum staking progress showed that the network achieved a validator count of one million, with the 32 million ETH staked accounting for 26% of the total supply.
The data also showed that around 30% of the ETH is staked using the Ethereum staking pool Lido, a liquid staking platform for proof-of-stake (PoS) cryptocurrencies.