Staked ETH has just reached a fresh all-time high. Around 37.2 million ETH is now locked into staking contracts, which means roughly 30.8% of Ethereum’s total supply is no longer freely tradable. In simple terms, almost one out of every three ETH is effectively taken off the open market.
This isn’t just a vanity metric. When such a large portion of supply is illiquid, the available ETH on exchanges keeps shrinking. Less liquid supply means sell pressure can be absorbed faster, especially during periods of strong demand. Over time, this changes how the market reacts to inflows, news, and broader risk-on environments.
What’s driving this trend is conviction. Stakers are choosing yield and long-term participation in the network over short-term liquidity. Many are comfortable locking ETH for extended periods, signaling confidence in Ethereum’s future role as core infrastructure for onchain finance, applications, and settlement.
The takeaway is simple: Ethereum isn’t just being used more it’s being held more. As staking continues to grow, supply tightness becomes a structural factor, not a temporary narrative. And in markets, structure tends to matter long after headlines fade.$ETH
