Ethereum sets record with 35 million ETH staked as investors accumulate the asset

Ethereum has reached a new milestone, with 35,35 million ether currently staked on the network’s consensus layer. This number represents approximately 29% of the cryptocurrency’s total circulating supply. At press time, Bitcoin’s price was trading at $2.477,84, down 6% over the past 24 hours.

The staking contract, which has been active since November 2020, was a key part of Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) through an upgrade known as “The Merge.” According to developers, this change resulted in a reduction of around 99% in the network’s energy consumption.

Based on current prices, the total amount of staked ether is valued at around $89,1 billion, equivalent to more than 20% of Ethereum’s market cap, according to data from Coinbase. Analysts point out that this large-scale staking movement has caused a significant reduction in the net supply of ETH, encouraging investors to adopt a posture of accumulation rather than active trading.

CryptoQuant’s on-chain analytics arm, OnChainSchool, has highlighted a record increase in ether stored in “accumulation addresses” — wallets known to hold assets without a significant history of sales. According to an analyst at the institution, “this growth signals increasing confidence and a continued decline in net supply.”

Despite the recent price decline, staking and accumulation levels remain high, reflecting growing optimism among long-term holders. Furthermore, institutional interest remains strong, with Wall Street investors continuing to pour capital into the second-largest digital asset on the market.

Spot ether exchange-traded funds (ETFs) in the United States now have about $10,5 billion in assets under management. That’s just over 3% of Ethereum’s market value, after an impressive 19-day streak of inflows that ended on Friday.

The combination of staking growth, the increase in accumulation addresses and continued institutional demand reinforces the current moment of scarcity in the ETH supply, which may influence price dynamics in the coming weeks.