According to a research report published by Flipside Crypto, the number of validators on Ethereum has increased by more than 30 percent in the past year, from 824,300 in September 2023 to more than 1 million for the first time in June 2024. According to Carlos Mercado, data scientist at Flipside Crypto, the increase in validators is attributed to growing institutional interest, driven by developments in the re-staking and liquidity staking space.