💰 BitMine launches an institutional platform #MAVAN for staking $ETH

The company BitMine presented the Made in America Validator Network (MAVAN) platform, which is designed for staking the second largest cryptocurrency by market capitalization.

Initially, the platform was created for internal operations, but now BitMine plans to provide services to large investors, custodians, and exchanges.

As of March 24, the company has locked over 3.1 million ETH worth $6.8 billion. In the last week, approximately 101,776 ETH has been transferred to MAVAN, equivalent to $219 million.

In the near future, it is planned to transfer the remaining unstaked coins there. According to the Composite Ethereum Staking Rate data from Quatrefoil, the annual yield from Ethereum staking will be 2.75%.

ETH

2,006.8

-0.20%