Bitcoin is not the only one attracting the spotlight. With over 34 million ether now locked on the Beacon Chain, the Ethereum protocol has just crossed a historic milestone, while ETH regains the key zone of $2,700. This is enough to fuel investors' appetite.
Nearly 30% of the ether supply is now locked
Since its launch in December 2020, the Beacon Chain has never seen so much ether (ETH) staked: 34.8 million ETH, or 28.7% of the circulating supply estimated at 120.8 million ETH.
A new peak that surpasses the previous record of November 10, 2024, and proves that one-third of holders prefer staking rewards rather than a pure trading strategy, as analyzed by Evan Van Ness, blockchain expert:
As a reminder, staking allows ETH holders to participate in the consensus of the Ethereum network by locking their ethers to become validators, receiving rewards in return.
The acceleration has been palpable since early June: net deposits are rising again after a stability above 33 million ETH that lasted 12 months. Such enthusiasm is reducing the available liquidity in the spot market, contributing to the rebound in the price of Ethereum of +8% observed yesterday.
Indeed, ether crossed the $2,700 mark yesterday around midnight for the first time since May 29: a threshold that acts as a psychological barrier, having already repelled four attempts in one month. If it holds, this breakout would pave the way towards $3,000.
