Centralization, sell-offs, and network stability: What’s troubling Ethereum ahea

[Btceth01]

With less than two days left until Ethereum transitions to a Proof-of-Stake system, all eyes are pointed at the Merge but many are still worried whether it will change the crypto market for the better.
According to the latest report from analytics company Nansen, the problems a PoS Ethereum will face aren’t dismissible. However, the company believes most concerns are largely unwarranted as Ethereum will weather the storm and emerge as a stronger, more resilient chain.
Merging into a more centralized system?
One of the most heated conversations around the Merge has been about the extent of centralization it will bring to Ethereum.Nansen reports that around 80,000 unique addresses are set to participate in staking on Ethereum. And while the number looks high, looking at the landscape of intermediary staking providers shows that there is quite a bit of centralization taking place.
In total, 11.3% of the ETH supply has been staked, or 13.5 million ETH. Lido, a decentralized liquid staking protocol, accounts for 31% of the total staked ETH. Coinbase, Kraken, and Binance have around 30% of the staked ETH. source