Ethereum’s Staking Saga: A Comedy of Highs and Lows! 😂

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In a twist of fate worthy of a poet’s quill, Staked Ethereum has danced its way to a new record, as the asset’s price pirouetted back to a 12-day high, all while major institutions were busy accumulating like kids in a candy store. 🍬

On a fateful Sunday, the amount of Ether (ETH) staked on the Beacon Chain reached a staggering 34.65 million ETH, eclipsing the previous high set on Nov. 10, 2024. Who knew numbers could be so dramatic? 📈

For the past year, the staked Ether has been as stable as a well-trained dog, hovering above 33 million. But lo and behold, it began to tick up again in June, as revealed by the ever-watchful network explorer, Beaconcha.in. 🐶

This uptick in staking levels suggests that more holders are playing hard to get, unwilling to sell at current levels, and instead opting for the sweet yield of staking. Who needs cash when you can have interest, right? 💸

Almost 30% of Supply Staked

A Dune Analytics dashboard, the oracle of our times, confirmed the record figure, reporting that 34.8 million ETH was staked as of Monday, while Ultrasound.Money chimed in with a slightly lower figure of 34.7 million. Because who doesn’t love a good debate? 🤷‍♂️

The analytics platform also revealed that the current amount staked is equivalent to 28.7% of the circulating supply of Ether, which stands at 120.8 million. Inflation returned in February, and it seems Ether is not one to shy away from a little drama. 🎭

ETF Staking Coming Soon?

This milestone arrives as the industry holds its breath, anticipating the approval of spot Ether ETF staking by the US Securities and Exchange Commission. Will they or won’t they? The suspense is killing us! 😱

Analysts, those brave souls, have suggested that staked Ether ETFs could debut “within the next few weeks,” following a recent filing by ETF provider REX Shares that employed some “regulatory workarounds.” Because who doesn’t love a good loophole? 🔍

Meanwhile, BlackRock’s industry-leading iShares Ethereum Trust (ETHA) has been on a shopping spree, accumulating the asset with 23 consecutive trading days without an outflow. Talk about commitment! 💍

ETH Price at 2-Week High

The amount of Ethereum staked has surged 77% over the past two years, despite the asset’s price performance being as exciting as watching paint dry, with a gain of around 50% over the same period. But hey, at least it’s not a total flop! 🎨

However, ETH prices have gained more than 8% on the day, reclaiming $2,700 on Tuesday, its highest price since May 29, almost a fortnight ago. It’s like watching a phoenix rise from the ashes! 🔥

The $2,700 price zone has served as resistance four times over the past month. Will it break through this time? Only time will tell, but we’re all on the edge of our seats! ⏳

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2025-06-10 06:37