According to CryptoRank statistics, the staking volume of Ethereum has officially surpassed 35 million ETH, accounting for 28.3% of the total supply (estimated to be locked at a value of approximately $84 billion at current market prices).
According to analysis, the positive growth of staking numbers is significantly contributed by large wallets holding between 1,000 to 10,000 ETH; meanwhile, the 'accumulation addresses' that have never sold ETH now hold 22.8 million ETH, setting a new record.
However, due to the continued growth of Ethereum staking, along with the increasingly important role of ETH in decentralized finance, NFTs, and enterprise applications, many impacts may arise:
1. Supply tightening: 35 million ETH are locked, reducing circulation, and rising demand may push prices higher.
2. Fluctuations in staking rewards: The increase in stakers has led to a decrease in reward rates, which may affect the willingness of institutions and large holders to allocate.
3. Enhanced network security: Under the proof-of-stake mechanism, the cost of attacks is proportional to the staking volume, enhancing security.
4. Institutional and regulatory benefits: In 2024, the SEC confirmed that agreement-level staking is not a security, reducing regulatory risks and attracting institutions like BlackRock to participate, with staking-based ETFs expected to provide convenient investment channels.
Centralization concerns: Lido accounts for about 25% of the staking volume, while Coinbase and Binance each account for 7.5%, and the issue of excessive centralization remains unresolved.
Ethereum core developers finalized the Fusaka upgrade at the ACDE #214 meeting on June 19, which includes 12 proposals and the new EIP-7939, totaling 13 items. Devnet 2 will launch on June 23, with specifications frozen and a clear timeline for the mainnet upgrade, drawing significant attention from investors and developers.
Key Proposal:
EIP-7594 (PeerDAS): The block data limit has increased to 16MB, and the number of blobs has increased to 36, improving throughput by 11%.
EIP-7918: Reduced the base fee for blobs to 2¹³, lowering gas costs.
EIP-7939: Added the CLZ opcode to improve bitwise operation efficiency.
EIP-7907: The contract code size limit has been adjusted to 48KB to support complex DeFi contracts.
Concerns: Some developers worry about new functionalities after Devnet 2, and the issue of centralization remains unresolved.
This morning, President Chuan broke the fragile balance of the crypto market. The "Fear and Greed Index" fell from yesterday's 49 (good) to 42 (fear), and sentiment appears slightly subdued.
The battle between bulls and bears is about to erupt
Bullish accumulation: On-chain analyst Yu Jin monitored that a large whale bought 13,498 ETH this morning (worth over $30 million), accumulating a total of 130,000 ETH since June 11, with an average price of $2,540, currently facing an unrealized loss of about $40 million.
Short sellers gathering: Another large whale has been laying out short positions in 58 cryptocurrencies since June 16, with an overall unrealized profit exceeding $20.65 million, and an unrealized profit of $4.2 million in ETH shorts.
The crypto market has entered a new cycle full of uncertainties. Behind the decline, bulls are accumulating, and bears are arbitraging, with ETH receiving continuous buying from large whales. On-chain data reveals that the market is in a game rather than fleeing. Whether Bitcoin can hold above $100,000, whether ETH will become a safe-haven asset, and whether altcoins will continue to be marginalized, time will provide the answer.
According to CryptoRank statistics, the staking volume of Ethereum has officially surpassed 35 million ETH, accounting for 28.3% of the total supply (estimated to be locked at a value of approximately $84 billion at current market prices).
According to analysis, the positive growth of staking numbers is significantly contributed by large wallets holding between 1,000 to 10,000 ETH; meanwhile, the 'accumulation addresses' that have never sold ETH now hold 22.8 million ETH, setting a new record.
However, due to the continued growth of Ethereum staking, along with the increasingly important role of ETH in decentralized finance, NFTs, and enterprise applications, many impacts may arise:
1. Supply tightening: 35 million ETH are locked, reducing circulation, and rising demand may push prices higher.
2. Fluctuations in staking rewards: The increase in stakers has led to a decrease in reward rates, which may affect the willingness of institutions and large holders to allocate.
3. Enhanced network security: Under the proof-of-stake mechanism, the cost of attacks is proportional to the staking volume, enhancing security.
4. Institutional and regulatory benefits: In 2024, the SEC confirmed that agreement-level staking is not a security, reducing regulatory risks and attracting institutions like BlackRock to participate, with staking-based ETFs expected to provide convenient investment channels.
Centralization concerns: Lido accounts for about 25% of the staking volume, while Coinbase and Binance each account for 7.5%, and the issue of excessive centralization remains unresolved.
Ethereum core developers finalized the Fusaka upgrade at the ACDE #214 meeting on June 19, which includes 12 proposals and the new EIP-7939, totaling 13 items. Devnet 2 will launch on June 23, with specifications frozen and a clear timeline for the mainnet upgrade, drawing significant attention from investors and developers.
Key Proposal:
EIP-7594 (PeerDAS): The block data limit has increased to 16MB, and the number of blobs has increased to 36, improving throughput by 11%.
EIP-7918: Reduced the base fee for blobs to 2¹³, lowering gas costs.
EIP-7939: Added the CLZ opcode to improve bitwise operation efficiency.
EIP-7907: The contract code size limit has been adjusted to 48KB to support complex DeFi contracts.
Concerns: Some developers worry about new functionalities after Devnet 2, and the issue of centralization remains unresolved.
This morning, President Chuan broke the fragile balance of the crypto market. The "Fear and Greed Index" fell from yesterday's 49 (good) to 42 (fear), and sentiment appears slightly subdued.
The battle between bulls and bears is about to erupt
Bullish accumulation: On-chain analyst Yu Jin monitored that a large whale bought 13,498 ETH this morning (worth over $30 million), accumulating a total of 130,000 ETH since June 11, with an average price of $2,540, currently facing an unrealized loss of about $40 million.
Short sellers gathering: Another large whale has been laying out short positions in 58 cryptocurrencies since June 16, with an overall unrealized profit exceeding $20.65 million, and an unrealized profit of $4.2 million in ETH shorts.
The crypto market has entered a new cycle full of uncertainties. Behind the decline, bulls are accumulating, and bears are arbitraging, with ETH receiving continuous buying from large whales. On-chain data reveals that the market is in a game rather than fleeing. Whether Bitcoin can hold above $100,000, whether ETH will become a safe-haven asset, and whether altcoins will continue to be marginalized, time will provide the answer.
