Ethereum staking has reached a new major record: the total amount of ETH that users have decided to “lock” on the Beacon Chain has reached 34.65 million .
This means that, for the first time, so many Ethers have been staked at once , becoming inaccessible for other operations and contributing to the security and functioning of the network.
According to Beaconcha.in , staking levels have remained above 33 million ETH for much of the past year, before starting to grow again in early June.
BlackRock's ETH Trust Sees 23 Consecutive Days of Inflows
The rise in the leading altcoin’s value comes amid growing institutional interest. BlackRock’s iShares Ethereum Trust (ETHA) has seen 23 consecutive trading days without outflows, signaling steady demand.
Data from Dune Analytics and Ultrasound.Money confirms the boom, with figures between 34.7 and 34.8 million ETH in stake, equal to almost 29% of the total supply in circulation.
Higher staking levels are generally seen as a signal of long-term conviction . Instead of selling, holders choose to lock in yield, reducing liquidity and potentially setting the stage for upward pressure on the price.
Additionally, the SEC is considering approving spot Ether ETFs that include staking components. A recent REX Shares announcement suggests that such products could hit the market within weeks, should the Securities and Exchange Commission approve them soon.
Ethereum Hits Highest Level Since May
ETH has gained more than 8% in the past 24 hours, hitting its highest level since late May. It is currently trading at $2,660 after a slight retracement from an intraday high of $2,707.The short-term trend remains bullish, although momentum is showing early signs of exhaustion on key indicators. On the 2-hour chart , ETH tested resistance near $2,700 for the fourth time this month, but failed to break out convincingly.
The RSI is hovering near overbought levels (69) , suggesting that buyers may be about to lose steam. The MACD remains bullish but is flattening, which could indicate a short-term slowdown.
Looking at the 30-minute timeframe , ETH touched the upper Bollinger Band at $2,742 before retreating. The RSI briefly crossed above 72, signaling short-term overheating. However, the bullish crossover in the MACD remains intact and the price is holding above the mid-band around $2,680, offering a key support level .
On the 1-minute chart, a sharper retracement was observed, with the RSI dropping below 30, indicating a temporary oversold condition. The MACD also moved lower, reflecting short-term profit-taking after the recent rally.
In summary , ETH’s bullish structure remains intact, but traders should monitor the resistance at $2,700 and the support at $2,660. A break above $2,707 could trigger the next phase of growth, while failure to sustain above $2,660 could lead to deeper consolidation.
With ETH staking at record levels and institutional inflows continuing, attention now turns to whether the ongoing rally will be able to continue on its current strength alone, or will new catalysts be needed to break through resistance and aim for new highs?
Follow me 🔥 Stay tuned for more updates 🚀😍🚀
