According to the latest data from CryptoQuant, Ethereum’s staking rate has reached a record level of 29.6% of its circulating supply. This event has captured the attention of both investors and analysts, as staking rates have not exceeded 30% since November 2024.
Increase in Ethereum Staking
CryptoQuant reports that 29.6% of Ethereum's circulating supply is now locked in staking contracts. This rate has not reached the 30% threshold since November 2024.
Decline in Exchange Reserves
At the same time, the reserves of ETH on exchanges are steadily declining, reducing sell-side pressure. Currently, there are 18.9 million ETH on exchanges, marking a new low.
Market Outlook and Predictions
Leon Waidmann, an on-chain researcher, noted that while staking climbs, exchange reserves drop. He wrote, "Markets have yet to price ETH as a conviction asset rather than a trading token." Investors are closely monitoring staking rates and exchange balances.
The combination of rising staking rates and declining reserves could impact the availability of ETH for quick sales. The future developments in the market will remain under close observation by investors.
