ETH 2.0 Binance staking rewards down more than 35% since May?

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ETH 2.0 Binance staking rewards down more than 35% since May?

Title is self-explanatory.

I started to stake ETH 2.0 on Binance in May.

As you know, the moment you stake your ETH, they give you an equal amount of BETH, which is tradeable

The BETH/ETH pair is usually around 0.935 – 0.96, and I have even seen it ever so slightly above 1, but effectively this is the penalty you pay fornl unstaking. (This also means that you can actually buy ETH, and then buy BETH at a discount. So you're really buying ETH at a discount, and so interesting opportunities exist).

This way to circumvent the locked staking was a big plus for me. Added to the fact that the rewards are distributed daily, I've been quite happy with my decision.

What I've noticed though, is that the average daily rewards I'm getting have decreased dramatically in the six months since May. To be precise, they've decreased by more than 35%.

To illustrate it using round (not my actual figures) numbers, where I started receiving 1 unit daily, now I'm receiving 0.65 only.

Has anybody else noticed a similar decrease? Is this due to diminishing rewards as the staked amount increases?

I'm seriously considering to unstake and switch to some light, cautious swing trading as a better alternative to increase my stack of ETH.

submitted by /u/chedebarna
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