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Ethereum Staking Accelerates With Almost 20% Supply Locked In

2 mins
Updated by Kyle Baird
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In Brief

  • Ethereum staking accelerates despite regulatory crackdown, reaching nearly 20% of the ETH supply.
  • Liquid staking platform Lido dominates with 7.4 million ETH staked, 31.5% to 36.4% market share.
  • Ethereum's circulating supply declines by over 280,000 ETH since the Merge in September 2022.
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Ethereum staking has not suffered during this month’s increased regulatory crackdown on the crypto industry. On the contrary, it has actually accelerated, with the amount of ETH staked reaching a new high.

On June 27, CryptoQuant co-founder and CEO Ki Young Ju posted an update on the state of Ethereum staking.

Ethereum Staking Surge

According to the on-chain analytics platform, nearly 20% of the Ethereum supply is now staked. Furthermore, there has been a sharp 5% increase in the past two months.

Ethereum staking rate. Source: Twitter/@ki_young_ju
Ethereum staking rate. Source: Twitter/@ki_young_ju

The figures for the amount of ETH staked vary depending on which analytics platform is used. CryptoQuant claims a figure close to 20%, which works out to just below 24 million ETH.

The Nansen platform has a similar figure of 23.37 million ETH staked (~19.4% of the circulating supply). At current ETH prices, this equates to around $43.6 billion.  

Nansen also reports that deposits have outpaced withdrawals over the past week. Over the past 24 hours, there has been a net increase of 43,064 ETH staked. Furthermore, the amount of ETH waiting for withdrawal is currently 30,316.

ETH deposits and withdrawals 7 days. Source: Nansen.ai
ETH deposits and withdrawals 7 days. Source: Nansen.ai

However, the number has been reported lower on other platforms such as the Beaconcha.in explorer. This platform gives a figure of 20.3 million ETH staked, which equates to roughly 17% of the total supply (120.24 million ETH).

Either way, the amount of staked Ethereum continues to increase two months after the Shapella upgrade released withdrawals in mid-April.

Find out what to do with your Lido staked Ethereum:

11 Best DeFi Platforms To Earn With Lido’s Staked ETH (stETH)

Liquid staking platform Lido remains the dominant platform for Ethereum staking, with 7.4 million ETH staked, according to Dune Analytics. Lido’s market share is between 31.5% and 36.4%, depending on which staked figure is used.

On June 26, the platform announced that its total value locked had increased 12.7% over the past week to reach $14.2 billion. This was largely due to the rally in ETH prices last week.

Another bullish statistic for Ethereum is that its circulating supply has declined by more than 280,000 ETH since the Merge in September last year.

ETH Price Outlook

ETH prices have not been as bullish as Bitcoin’s over the past week or so. BTC has gained almost 13% in the past seven days, whereas ETH has notched up 8%.

Ethereum was trading down 1% on the day at $1,865 at the time of writing. It topped $1,900 three times over the past week but failed to reach the psychological $2,000 level.

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Martin Young
Martin Young is a seasoned cryptocurrency journalist and editor with over 7 years of experience covering the latest news and trends in the digital asset space. He is passionate about making complex blockchain, fintech, and macroeconomics concepts understandable for mainstream audiences.   Martin has been featured in top finance, technology, and crypto publications including BeInCrypto, CoinTelegraph, NewsBTC, FX Empire, and Asia Times. His articles provide an in-depth analysis of...
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