36 million ethereum tokens now committed to staking

The number of ethereum tokens dedicated to staking, the responsibility to secure the blockchain, has reached a new milestone. Stakers, who play a crucial role in ensuring the network’s security, have committed approximately 36 million tokens – which represents 30% of ethereum’s total supply – to staking, based on data from blockchain explorer beaconcha.in. At current market prices, these tokens are valued at $119.3 billion.

This surge in staked ethereum comes at a time when institutional players are increasingly joining the staking scene. Ether.fi, a popular restaking protocol recognized for its innovative crypto-powered credit card, has seen an addition of 276,288 tokens over the past month in terms of security. Furthermore, BitMine Immersion Technologies, a prominent ethereum treasury firm, has significantly increased its total staked ETH from 659,219 to 1,256,083 tokens just last week, marking a substantial 90% increase in staked tokens.

As demand for staking ethereum continues to rise, the entry queue now stands at 2,348,580 ethereum tokens, resulting in a current wait time of 40 days and 19 hours for individuals looking to start staking. CEO and cofounder of Ether.fi, Mike Silagadze, attributed the increase in staked ethereum to institutional deposits, particularly from large family offices and SharpLink Gaming, which is the second-largest ethereum treasury firm in the market.

The native token for ethereum has experienced an impressive $38.5 billion in trading volume over the past 24 hours, with its price surging by more than 6% during this period. This indicates the growing interest and investment in ethereum, both in terms of staking and trading activities.

Overall, the current state of ethereum staking reflects a growing trend towards institutional involvement in the cryptocurrency space. With major players like Ether.fi and BitMine Immersion Technologies leading the way, it is clear that staking has become a significant aspect of the ethereum ecosystem. As more tokens are dedicated to staking and the entry queue continues to expand, the future of ethereum staking looks promising and continues to attract interest from a wide range of investors and organizations.