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According to the latest data, the leading smart contract platform Ethereum (ETH) has approximately 25% of its supply staked. This percentage corresponds to 30 million ETH. Nansen’s data indicates that 936,849 validators are involved in the process. Full-scale staking on Ethereum began after the blockchain’s Shapella upgrade in 2023.
The Staking Process on Ethereum
Although the activity has been available since the September 2022 upgrade, the Shapella upgrade has made it more popular. Validators are now responsible for the security and maintenance of the Ethereum network instead of miners. Validators stake ETH to participate in network security and to earn rewards. This reward is typically between 6% to 15% annual percentage rate (APR). However, it should be noted that some ETH holders may not be able to stake.
This could be due to the minimum requirement of 32 ETH and the annual earnings for validators being between 2 to 5 ETH. Furthermore, an analysis of staking data shows that Lido Finance (LDO) continues to be the preferred staking platform for deposit holders. At the time of writing, the staking sector’s market share was 31.8%. Additionally, the average price of staked ETH was $2,022, indicating that most participants are profiting from the altcoin’s price and rewards.
Analytics Reports on Ethereum
For most of January, ETH stake deposits declined. However, the situation changed starting from the last week of the month. According to Dune Analytics, the 14-day moving average (MA) Netflow rose to 840,263. This increase indicates a growing interest in the activity among participants. It also became apparent that investors have confidence in ETH’s long-term potential. ETH’s price rose to $2,435 on the day the staked supply reached 25%. This performance represents a 3.19% increase over the last 24 hours. If the bulls reverse the resistance, the next liquidation point could be around $2,750. Therefore, investors looking for high-margin long ETH positions should be mindful of their targets. On the other hand, short positions should pay attention to ETH’s movement around $1,855 and $2,100.
