Ethereum staking yields have ticked back above 3.5% APY as the validator entry queue shortens and base-layer activity picks up. This matters for ETH/BTC and for the staked-ETH liquidity layer.
Why the move
Two drivers: (1) higher base-layer fees from increased on-chain activity, and (2) MEV-boost rewards trending higher with restaked-ETH unwinds.
What it changes
Higher real yields make ETH more attractive to allocators who model it as a yield-bearing asset. Combined with ETF flows, this is a structural tailwind.