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Ethereum breaks staking record

According to on-chain data from CryptoQuant, currently as much as 29 percent of the total Ethereum supply is staked.

By Mike Hesp
• 2 min read
Ethereum breaks staking record

According to on-chain data from CryptoQuant, currently as much as 29 percent of the total Ethereum supply is locked up in staking. This amounts to 35.35 million ETH, an all-time high for the largest Proof-of-Stake blockchain by market cap.

This milestone coincides with a resurgence of sentiment around Ethereum. ETH's price earlier this year dropped to a low of about $1,300, in part due to geopolitical tensions surrounding former President Donald Trump. Since then, the second-biggest crypto asset has mounted a powerful comeback.

The new wave of investor optimism isn’t just about technological advances within the Ethereum ecosystem. Institutional players also appear to be turning their attention back to ETH. For instance, the number of ETH held by 'whales' has notably increased in recent weeks.

A major catalyst is the Ethereum ETFs, which recently saw unprecedented capital inflows. A record 19 straight days of inflows into these funds, totaling more than $1 billion.

Meanwhile, the publicly traded company Sharplink (ticker: SBET) is positioning Ethereum as a strategic part of its reserve model, a move that further legitimizes institutional adoption of ETH.

Another driver behind the rising number of staked coins is the expectation that staking-based Ethereum ETFs will soon win regulatory approval. These products give investors exposure not only to price but also to current staking yields of around 3%, an attractive alternative in a market with scarce returns.

Data from Staking Rewards also shows Ethereum has reclaimed its position as the most-staked blockchain, overtaking Solana, which briefly topped the list in April.

Finally, so-called "accumulation addresses" indicate that trust among loyal ETH supporters remains intact. The number of wallets that have never withdrawn ETH is also at a record high, signaling long-term investors are expanding their positions.

Ethereum seems not only back but ready for a new chapter in its evolution, with staking as the backbone and a draw for both retail and institutional capital.

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