Onchain data provider IntoTheBlock has revealed that 28.9% of all Ether (ETH) is now staked, highlighting tokenholders’ growing confidence in the long-term potential of the crypto asset. On October 8, the platform reported that an additional 5.1% of ETH had been staked in the past 10 months, up from 23.8% in January.
This surge in staking reflects a strong belief in Ethereum’s future, with 15.3% of all staked ETH locked for over three years. IntoTheBlock described this as a clear indication of “long-term confidence” in the asset, despite recent market volatility.
Ether Price Drops Despite Increased Staking
However, the rise in staking interest hasn’t translated into price gains for ETH. While Ether showed strength in the first half of 2024, its price faced significant challenges in October. After reaching a yearly high of over $4,000 in March, ETH has since dropped 40%, currently trading around $2,400.
Analysts attribute the recent price decline to sell pressure from initial coin offering (ICO) participants and a lack of demand for spot Ether exchange-traded funds (ETFs). Between October 1 and 3, ETH’s price fell by 12%, erasing gains made in the previous two weeks after failing to break through the $2,650 resistance level.
Vitalik Buterin Advocates for Lowering Solo-Staking Requirements
In response to the ongoing discussion around staking, Ethereum co-founder Vitalik Buterin has voiced his support for reducing the minimum requirements for solo staking. Currently, investors need 32 ETH, equivalent to nearly $80,000, to stake independently.
Buterin acknowledged that this high threshold may discourage broader participation, even though staking pools are available for users with smaller amounts of ETH. He joined a discussion on October 3, stressing the importance of making solo staking more accessible to encourage more users to participate directly in Ethereum’s staking ecosystem.
