Ethereum Staking Hits New High, Price Breaks $2700
The amount of Ethereum staked recently reached a historic high, while the price rebounded strongly to a nearly two-week high, with institutional investors continuing to accumulate being a key driving force.
Staking Scale Breaks Record
The amount of Ethereum staked on the Beacon Chain reached 34.65 million ETH, surpassing the previous high on November 10, 2024.
Latest data from Dune Analytics shows that as of June 10, the staking amount further increased to 34.80 million ETH, accounting for 28.7% of the circulating supply.
Although the staking amount has remained stable above 33 million over the past year, there has been a noticeable upward trend since June, reflecting that holders prefer staking for profits rather than selling.
Institutions Actively Positioning, ETF Expectations Rising
BlackRock's iShares Ethereum Trust has seen no fund outflows for 23 consecutive trading days, indicating that institutional funds are actively flowing in.
The market widely expects the U.S. Securities and Exchange Commission (SEC) to soon approve the staking feature of a spot Ethereum ETF, with analysts believing that related products may be launched within weeks.
Price Strongly Rebounds
Driven by the surge in staking and positive signals from institutional accumulation, the price of Ethereum rose sharply by 8% on Tuesday, reaching $2700 at one point, marking the highest level since May 29.
Core Drivers:
Continued inflow of institutional funds (represented by BlackRock products) and strong market expectations for the approval of a spot Ethereum ETF that supports staking have jointly driven the Ethereum staking scale to a new high and the price to rise significantly.
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