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Sujit Kumar
Oct 8, 2024
by Sujit Kumar

Nearly One-Third of All Ether Staked Despite Price Decline in 2024

Ether staking
Ethereum’s staking ecosystem has reached a major milestone, with nearly 29% of all Ether (ETH) now staked. On October 8, onchain data provider IntoTheBlock reported that 28.9% of the total ETH supply has been staked, a significant rise from the 23.8% recorded in January 2024. This 5.1% increase over the past 10 months highlights growing confidence among Ethereum tokenholders in the long-term value and potential rewards of staking ETH.

Long-Term Commitment to Ethereum

IntoTheBlock further noted that 15.3% of all staked ETH has remained locked for over three years. This signals strong confidence in Ethereum’s future as holders commit to long-term staking, undeterred by short-term price fluctuations. This trend reinforces the idea that investors are looking beyond immediate market conditions, focusing instead on the long-term prospects of Ethereum as a major blockchain network.

Price Drops Despite Staking Growth

Despite the increase in staking, Ether’s price has struggled in recent months. After reaching a yearly high of over $4,000 in March 2024, ETH has since dropped by 40%, now trading around $2,400. Analysts attribute this decline to factors such as sell-offs from initial coin offering participants and weaker demand for spot Ether ETFs.

Vitalik Buterin Supports Lowering Solo-Staking Barriers

In other news, Ethereum co-founder Vitalik Buterin has voiced support for reducing the minimum requirements for solo staking. Currently, solo stakers need 32 ETH (roughly $80,000), a high barrier for many investors. Buterin’s comments suggest a push towards making solo staking more accessible, which could boost participation in the staking ecosystem.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Ether Staking
Nearly One-Third of All Ether Staked Despite Price Decline in 2024
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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