ETH Staking Ratio Reaches All-Time High of 27.95%, Decoupling from Price Action
CryptoNewsTerminal Staff06 Aug, 2024
ETH Staking Ratio Reaches All-Time High of 27.95%, Decoupling from Price Action
The percentage of staked ETH has reached an all-time high of 27.95%, according to The Block. This 1.9% increase in staked ETH was reportedly observed after the launch of the Ethereum ETF. "The interesting thing is that the trend in ETH staking has decoupled from the price action," the media outlet added. The price of Ethereum has fallen by about 30% since hitting a high of $4,090 in March. However, the percentage of ETH staked has increased from about 26% to 28% during the same period. Given Ethereum's current circulating supply of about 120 million, a 2% increase in the percentage of staked ETH translates to about $7 billion worth of value.
