On Tuesday, Ethereum staking reached a new all-time high, driven by significant institutional accumulation and anticipation of potential spot Ether ETF staking approvals. This surge indicates growing confidence in the asset, with nearly 30% of the circulating supply now locked in staking.
According to data from Sunday, the amount of Ether (ETH) staked on the Beacon Chain reached a record 34.65 million ETH, surpassing the previous high on November 10, 2024. This figure was confirmed by a Dune Analytics dashboard, which reported 34.8 million ETH staked as of Monday, while Ultrasound.Money reported 34.7 million staked. (Source: Cointelegraph, June 18, 2024)
The current amount staked represents 28.7% of Ether's circulating supply, which is 120.8 million. The industry is also anticipating the approval of spot Ether ETF staking by the US Securities and Exchange Commission. (Source: Cointelegraph, June 18, 2024)
BlackRock's iShares Ethereum Trust (ETHA) has been actively accumulating ETH, with 23 consecutive trading days without an outflow. Over the past two years, the amount of Ethereum staked has increased by 77%, despite the asset's price gaining around 50% during the same period. (Source: Cointelegraph, June 18, 2024)
On Tuesday, ETH prices gained over 8% to reclaim $2,700, its highest price since May 29. The $2,700 price zone has served as resistance four times over the past month. (Source: Cointelegraph, June 18, 2024)