Ethereum Staking Rises Amid Market Decline, Securing More Than 28% of Total Supply

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This week, has achieved a significant milestone, with over 35 million , representing more than 28.3% of the total supply, now secured within the network’s proof-of-stake framework, as reported by Dune Analytics.

Key Takeaways:

  • More than 35 million ETH, accounting for 28.3% of the total supply, is currently staked.
  • This increase follows favorable guidance from the SEC regarding staking, although approvals for Ether staking ETFs are still pending.
  • Lido, Binance, and Coinbase lead the staking landscape, raising concerns regarding centralization.

The increase in staked ETH occurs amidst generally subdued market conditions, indicating a long-term commitment from holders and a reduction in liquid supply.

In the first half of June alone, over 500,000 ETH was staked. This trend indicates a change in investor behavior, with many choosing to earn yield instead of selling at current market prices.

Ethereum Staking Enhances ETH’s Asset Strength

Experts assert that the rise in Ethereum staking is bolstering ETH’s status as one of the most fundamentally robust digital assets.

“The increase in ETH staking signifies growing confidence and reduced selling pressure,” stated pseudonymous analyst Onchainschool via CryptoQuant.

Addresses that have never sold their ETH now collectively possess 22.8 million coins, reaching an all-time high.

This momentum also follows a recent regulatory change in the U.S. In late May, the Securities and Exchange Commission clarified that protocol-based staking activities do not necessitate registration under the Securities Act.

This announcement was viewed by many as a positive development for Ethereum and other proof-of-stake networks.

Staked ETH reaches new ATH: 35M ETH locked
Staked $ETH has achieved a new all-time high with over 35 million #ETH locked, now representing more than 28.3% of total supply. As liquid supply tightens, more Nasdaq-listed companies are incorporating crypto into their treasuries. pic.twitter.com/Valwgt0rkB

— CryptoRank.io (@CryptoRank_io) June 20, 2025

Nevertheless, uncertainties persist regarding the approval of Ether staking ETFs. The SEC has yet to approve Bitwise’s application to incorporate staking into its ETF product, having delayed the decision in May.

At present, over 25% of all staked ETH is managed by liquid staking leader Lido, while Binance and Coinbase account for 7.5% and 7.4%, respectively.

Coinbase has also become Ethereum’s largest node operator, overseeing more than 11.4% of staked ETH through its validators.

While some critics caution that liquid staking may introduce centralization risks, especially if too much power is concentrated in a few platforms, institutional adoption is on the rise.

Ethereum Whale Accumulation Reaches 7-Year Peak

Ethereum is experiencing its most significant whale accumulation in seven years, with large wallets adding over 871,000 ETH in a single day on June 12.

This represents the highest daily inflow in 2025 and has pushed total holdings in wallets containing 1,000 to 10,000 ETH beyond 14.3 million ETH, according to Glassnode.

This surge reverses a multi-month decline in whale activity and indicates renewed long-term confidence in Ethereum’s fundamentals.

While ETH’s price remains relatively stable, such substantial accumulation suggests that major players may be positioning themselves ahead of significant ecosystem developments or macroeconomic events.

Historical data indicates that this type of wallet-level activity has frequently preceded sharp price increases.

Analysts propose that forthcoming Ethereum upgrades, increased tokenization of real-world assets, and the growing adoption of networks like Arbitrum and Optimism could be influencing factors.

However, not all developments are favorable. Ethereum-related companies like SharpLink Gaming have faced challenges, with shares plummeting 73% after the company moved to register shares for resale shortly after announcing a potential $1 billion ETH allocation.

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