Ethereum is setting new records in staking and asset accumulation despite cooling prices and reduced retail interest.
Ethereum Staking Records
In June, Ethereum reached a new milestone by surpassing 35 million ETH staked. Over 500,000 ETH was locked in the first two weeks of the month, marking a record for the network. This illustrates a trend of long-term holders choosing to secure their ETH, reducing its active circulation.
Whale Accumulation amid Low Retail Interest
According to crypto analyst Merlijn The Trader, whales purchased $2.5 billion worth of ETH in a single day, the largest single-day inflow since 2018. Despite this, retail interest remains low, indicating a potential phase of decline in early market cycles. As of press time, ETH was trading around $2,571, down 2.09% over the past 24 hours and 3.98% over the past seven days.
Dormant Wallets Reactivate and ETF Filing
Two Ethereum wallets that had been dormant for years began selling. One wallet transferred 500 ETH to exchanges after two years of inactivity. Another wallet from 2014 sent its entire balance of 2,000 ETH to Binance, amounting to $5.13 million. Concurrently, Truth Social filed for a Bitcoin and ETH ETF, which could attract mainstream investment and promote digital asset access.
Overall, despite changes in user activity and prices, Ethereum continues to set records in staking and asset accumulation, which may influence the market in the long term.
