The Ethereum network is experiencing a sharp rise in transaction activity and a significant increase in staking volume. Over 36 million ETH are locked in the network, indicating growing interest among investors.
Record Staking Levels for Ethereum
According to data from Dune Analytics, over 36 million ETH are now staked in the Ethereum network, equating to about 30 percent of the total supply. This surge in staking is occurring as investor interest grows, with many opting for staking rewards over liquidity. In just the first half of June, over $1.8 billion in ETH was staked.
SEC's Internal Criticism of Staking Opinion
Despite the SEC's statement that liquid staking does not involve the offer of securities, not all commission members agree. Commissioner Caroline Crenshaw criticized this view, calling it 'a wobbly wall of facts' based on numerous assumptions. She also noted that the opinion represents views from just one SEC division.
Long-Term Interest and Market Impact
More than 500,000 ETH were staked in June, indicating rising optimism among participants about Ethereum's long-term outlook. Increased staking has also reduced the liquid supply of Ethereum, which may impact price stability and demand. Alluvial CEO Mara Schmiedt expressed that this opens new revenue sources for institutions.
The sharp increase in ETH staking and network activity reflects growing investor interest. However, internal disagreements within the SEC regarding staking regulations may affect the future development of this sector.
