According to @MilkRoadDaily, ETH staking rewards have surpassed $17 million since June 2, underscoring a notable on-chain yield stream for Ethereum stakers; traders should note the scale and timing of these payouts. source: https://twitter.com/MilkRoadDaily/status/1973020912288252204 Staking rewards are paid in ETH and become liquid via partial withdrawals to the execution layer after the Shapella upgrade, which can introduce periodic supply and liquidity events as rewards are distributed. source: https://ethereum.org/en/staking/withdrawals/ Ethereum staking APR is mechanically linked to the amount staked, with yields generally declining as total stake rises, making reward accrual a key input for pricing LST yields and validator economics. source: https://ethereum.org/en/staking/ Liquid staking tokens such as Lido’s stETH (LDO) and Rocket Pool’s rETH (RPL) pass through validator rewards to token holders and maintain on-chain liquidity, tying ETH staking reward changes to LST pricing and basis. source: https://docs.lido.fi/ and https://docs.rocketpool.net/ Net ETH supply depends on issuance from staking rewards minus ETH burned via EIP-1559, so reward growth must be contextualized against fee burn when evaluating inflationary or deflationary pressures on ETH. source: https://ethereum.org/en/roadmap/eip-1559/