Ethereum (ETH) staking has hit a major milestone with more than 28% of the altcoin now staked.
Total Ethereum Staked Reach 28%
According to data from Glassnode and Cryptoquant.com, 28% of the total ETH is now staked. About 10% of Ethereum volume is left on cryptocurrency exchanges drawing inferences of scarcity.
Leon Waidmann, Head of Research at the non-profit organization Onchain Foundation, stated that the broader crypto industry on X is yet to fully understand the implications of this move.
#ETHEREUM STAKING ALL-TIME HIGH!
OVER 28% of total #ETH is now staked.
JUST 10% on exchanges.
Crypto X hasn’t fully grasped the significance of this yet.
Scarcity like never before, eclipsing all past bull runs!
A massive $ETH price surge is in the making! pic.twitter.com/aBIWItYaXx
— Leon Waidmann | Onchain Insights (@LeonWaidmann) July 29, 2024
It is worth noting that this kind of high staking percentage could trigger intense scarcity for ETH in the market. This is a clear sign of a supp
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