Ethereum Staking Hits Record High, ETH Surges Past $2,400

Ethereum staking has reached a significant milestone, with over 25% of the total ETH supply now staked. This is despite the poor performance of the ETH price over the past year.

Staking on the Rise

Liquid staking protocols like Lido Finance have seen a steady increase in the amount of ETH being staked. As a result, the total amount of ETH staked has reached a new all-time high.

25% of ETH Staked

Lido Finance shared a screenshot of a Dune Analytics dashboard showing that the total percentage of ETH supply being staked has crossed the 25% mark. The dashboard shows that this figure continues to climb, with 25.08% of the total ETH supply now staked.

Positive Net Flows

Net flows have also gone against expectations and have been positive since the Shanghai upgrade, which allowed stakers to withdraw their staked ETH. Over 10 million ETH have flowed into staking contracts since the upgrade.

Lido Dominates Staking

Lido is the largest Ethereum staking platform, with over 297,000 validators on the protocol. It accounts for 31.52% of all staked ETH. Coinbase follows behind Lido, accounting for 14.4% of the total ETH staked.

Rewards for Stakers

Ethereum stakers have made significant rewards since the initiative began. Lido stakers have earned over 467,000 ETH, Coinbase stakers have earned 259,000 ETH, and Binance stakers have earned 139,000 ETH.

ETH Price Surge

The ETH price has also turned bullish during this time, beating the resistance at $2,400. It is up 2.22% in the last day, with 7% gains in the last week.