Ethereum Staking Rises Despite Market Depression, Locking Over 28% of Supply
Ethereum staking has reached a new milestone today, with over 35 million ETH, more than 28.3% of the total supply, now locked into the network’s proof-of-stake system.
Ethereum staking has reached a new milestone this week, with over 35 million ETH, over 28.3% of the total supply, now locked into the network’s proof-of-stake system, according to Dune Analytics.
Key Takeaways:
- Over 35 million ETH, 28.3% of total supply, is now staked.
- The increase follows beneficial SEC guidance on staking, though Ether staking ETF approvals remain pending.
- Lido, Binance, and Coinbase dominate staking, raising concerns about centralization.
- The rise in staked ETH comes even as wider market conditions remain controlled, suggesting long-term conviction amongst holders and a tightening up of liquid supply.
- Over 500,000 ETH was staked in just the first half of June. In late May, the Securities and Exchange Commission clarified that protocol-based staking activities do not require registration under the Securities Act.
The announcement was translated by many as a win for Ethereum and other proof-of-stake networks.
Staked ETH hits new ATH: 35M ETH locked Staked $ETH has reached a new all-time high with over 35 million #ETH locked, now accounting for more than 28.3% of the overall supply. The SEC has yet to greenlight Bitwise’s application to include staking in its ETF product, having held off the decision in May.
Currently, more than 25% of all staked ETH is handled by liquid staking giant Lido, while Binance and Coinbase account for 7.5% and 7.4%, respectively. Coinbase has also emerged as Ethereum’s largest node operator, managing over 11.4% of staked ETH via its validators.
While some critics caution that liquid staking introduces centralization risks, especially if too much influence becomes concentrated in a handful of platforms, adoption among organizations is accelerating.
Ethereum Whale Accumulation Hits 7-Year High Ethereum is experiencing its most significant whale accumulation in 7 years, with large wallets adding over 871,000 ETH in a single day on June 12.
