Ethereum’s onchain conviction grows as staked ETH rises, even as price underperforms
The Block
Ethereum staking has reached 31% of total supply, showing strong long-term holder conviction despite the asset's year-to-date price decline.Summary
Ethereum's staking participation has climbed to approximately 31% of the total supply, signaling strong long-term confidence from holders despite a 26% decline in ETH price year-to-date. This trend, supported by liquid staking protocols like Lido, effectively reduces the circulating supply, which historically serves as a constructive setup for future price appreciation.
The network continues to strengthen its fundamentals through its leading position in real-world asset (RWA) settlement, DeFi, and Layer 2 scaling. While the current divergence between price performance and onchain utility is notable, the future outlook may depend on increased institutional capital deployment via spot ETH ETFs and tokenization initiatives.
(Source：The Block)