Ethereum’s price has been a bit up and down lately, but one thing’s for sure: people are really into staking it.
Staking is Exploding!
A recent report shows a huge jump in Ethereum (ETH) staking. Loads of ETH is locked up, showing strong belief in Ethereum’s future. We’re talking over 36 million ETH, which is almost 30% of all the ETH out there! That’s a whopping $158 billion at current prices. This isn’t just small investors; big institutions are getting in on the action too. They see staking as a way to secure the network, not just make a quick buck.
ETH Leaving Exchanges
Interestingly, a lot of ETH is leaving major cryptocurrency exchanges. This suggests people are holding onto their ETH for the long term instead of actively trading it. The amount of ETH on exchanges is hitting record lows, which is a really bullish sign. It looks like ETFs, government treasuries, and big companies are all buying up ETH.
ETH Dominates Spot Market
Even more impressive, Ethereum has just overtaken Bitcoin in spot market share! For the first time ever, ETH accounts for more than 50% of the spot market. This is a big deal and shows where the money is flowing. Experts believe this is due to a combination of stablecoins, tokenization, ETFs, and new regulations all focusing on Ethereum. This could be a major turning point.