Staked ETH supply on Ethereum network exceeded 33% for the first time since the Merge

Staked ETH ratio hits record level

Recent data suggests that, despite fluctuations in price, long-term investor behavior on Ethereum has shifted. Participation in staking continues to rise steadily, with many investors opting to lock up their assets instead of selling during the current weak market conditions.

CryptoQuant’s findings indicate that since Ethereum’s transition to a Proof of Stake (PoS) mechanism, the staked supply ratio has maintained an upward trajectory. With roughly one-third of all ETH now staked, the amount of liquid ETH available in circulation has declined noticeably.

Mini glossary: CryptoQuant is an analytics platform tracking on-chain data. Staking means investors lock up their assets to help secure the network, earning rewards in return.

This liquidity reduction does not automatically mean the price will rise. However, if demand grows in the future, the more limited circulating supply could cause price movements to become more pronounced.

Significant withdrawal from Binance draws attention

On-chain analytics platform Lookonchain reported that a newly created wallet withdrew 9,876 ETH from Binance—valued at around $15.4 million—and subsequently staked the entire amount.

Lookonchain indicated that a new wallet withdrew 9,876 ETH from Binance and staked the full amount on the network.

Known for monitoring large transfers and wallet activity on the blockchain, Lookonchain highlighted this transaction as an example of large investors preferring long-term network positions rather than short-term sales.

Ethereum price holds $1,550 support

Although staking metrics have reached historic highs, Ethereum’s price remains under pressure. At the time of these developments, ETH was trading around $1,571, with CryptoQuant charts showing the asset lingering close to the $1,500 mark.

According to technical analysis from several analysts, Ethereum has managed to stay above the $1,550 support zone even as Bitcoin retreated to new annual lows. This resilience highlights ETH’s comparative strength against Bitcoin during the recent decline.

Despite this, $1,700 stands out as a major resistance level. Analysts note that for the downside risk in Ethereum to ease, the asset will need to break above this key level once more.