Bitfinex Offers Ethereum Staking Service with Estimated Annual Rewards of Up to $70

Bitfinex is offering an Ethereum staking service to users who hold ETH. The platform allows users to earn protocol rewards by staking their ETH, with rewards distributed weekly and paid out in a soft-staking format. This means users do not need to run their own validators.

The estimated annual reward for holding 1 ETH is around $70 at current rates, assuming an ETH price of approximately $2,700. The service operates as a soft-staking platform, meaning users can earn rewards without the need to manage their own validators.

However, it's worth noting that unstaking requires an additional conversion process and may take weeks or even months to complete based on Ethereum network timings. Additionally, this service is unavailable to U.S. residents and certain restricted persons.