More than 30% of Ethereum’s total supply is now locked in staking, marking a new all-time high for the network. Over 30.5% of all ETH is currently staked — even as the price hovers around $1,950, highlighting the ongoing contrast between long-term conviction and short-term market sentiment.
Since early 2023, Ethereum’s staking ratio has risen steadily from roughly 15% to above 30%. Through market downturns, sharp corrections, and brief rallies, participants have continued locking up their ETH. Their actions suggest a focus on the network’s long-term fundamentals rather than reacting to short-term price swings.
What makes this situation particularly interesting is that periods of divergence between price and staking growth have historically not lasted long. In mid-2023, staking crossed 22% while ETH traded near $1,800 — shortly before climbing past $4,000. Similarly, by early 2025, staking moved above 28% when ETH was under $2,500, followed by a rally beyond $4,500 later that year.
There are two main drivers behind this pattern. First, staking reduces liquid supply — with more than 30% of ETH earning yield instead of sitting on exchanges, the available market supply tightens. Second, rising staking participation signals confidence from those most deeply involved in maintaining the network, choosing commitment over caution.
When prices remain subdued but staking continues to increase, it suggests long-term holders are accumulating and quietly removing liquidity from circulation. Supply pressure builds gradually, even if it isn’t immediately reflected on price charts.
Short-term performance may look discouraging, but the behavior of committed network participants tells a far more optimistic story beneath the surface.
