According to The Block, DeFi researcher Mika Honkasalo noted on Twitter that the seven-day moving average for annualized staking rewards on stETH, a liquid staking token backed by ether, has climbed to 5.5%. This is up from just 3.5% in September, according to data from Lido Finance. For those leveraging their staking rewards, through offerings such as icETH or ETHMAXI, APRs have shot up as high as 11%. The main cause for the rising yield is increased network activity, specifically in ways that result in higher fees for network validators. In particular, maximal extractable value (MEV) activity — where bots front-run transactions on the blockchain — has picked up, Honkasalo said.