- Ethereum: staking hits all-time high -

The Ethereum network has demonstrated remarkable robustness, evidenced by the volume of $ETH in staking that has reached a new record. Almost 30% of the circulating supply of the cryptocurrency is currently locked, an indication of investor confidence in appreciation and stability. This phenomenon occurs at a time of recovery for the asset, which surpassed the $2,700 mark, driven by increasing interest from large financial institutions.

PS: in the last 24 hours, the asset suffered a sharp decline of over 9%, sinking below $2,500.

This significant milestone in staking occurs amid growing expectations for the approval of exchange-traded funds (ETFs) that include staking functionality by the U.S. Securities and Exchange Commission (SEC). Market analysts suggest that these ETFs could be launched soon.

As a result, the amount of $ETH in staking has grown a remarkable 77% in the last two years. However, the performance of the asset's price has been more modest, with an appreciation of around 50% over the same period, still far from a new all-time high.

The $2,700 range has served as an important resistance in the last month, and breaking it will be crucial for the continuation of the upward movement.

However, the price remains in a downward trend and approaches a crucial technical support at $2,679. If this level is broken, the next targets on the downside are at $2,479 and even $2,326, should the selling momentum intensify.