Over 34.6 million ETH is now staked, according to multiple tracking sites, representing close to 29% of the total supply. This long-term commitment by holders comes at a time when Ethereum pushed past $2,700 for the first time in nearly two weeks.
BlackRock’s ETH Product Keeps Absorbing Inflows
Institutional activity is heating up as well. BlackRock’s ETH trust has now seen three weeks of straight inflows, showing consistent demand from investors with deeper pockets.
There’s also increasing chatter around Ethereum-based ETFs that might include staking yield, depending on upcoming regulatory green lights. That could push more traditional capital into the space.
Less Liquid ETH = More Price Pressure?
When people stake their ETH, they’re essentially locking it up for yield — meaning it’s taken off the market. This reduces circulating supply, and historically, that kind of setup tends to apply upward pressure on prices.
Instead of rushing to sell, these holders seem to be betting on Ethereum’s long-term strength — and they’re willing to earn rewards while they wait.
ETH Hits Highest Point Since May
After a solid 8% move in the last day, Ethereum touched $2,706 before slightly pulling back. That puts ETH at its strongest level since the end of May.
But momentum indicators show some short-term fatigue. The RSI is getting close to overbought zones, and price has now knocked on the $2,700 resistance multiple times without a clean breakout.
That said, the structure still looks bullish. A push above $2,706 could open the door for more upside, while a drop below $2,660 might mean a pause or some sideways action.
With more ETH being staked than ever and traditional finance players entering the scene, the big question is: can this fuel the next breakout — or are we still waiting on the next big catalyst?
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
