Ethereum Staking Surpasses $147 Billion, With Over a Third of Supply Locked: Santiment

According to market intelligence platform Santiment, over 33% of Ethereum’s total supply is currently staked. Santiment reports on social media that more than 47 million Ether. Valued at approximately $147 billion, are being staked on a leading ETH staking platform.
This figure marks a significant increase from 10.9% two years ago, highlighting the growing adoption of Ethereum 2.0’s proof-of-stake mechanism. The ETH2 Beacon Deposit Contract now holds a record 47.36 million ETH, contributing to 33.9% of the entire supply. Staking involves ETH holders validating the blockchain to earn rewards, a shift that Ethereum made in September 2022 to improve speed, cost-efficiency, and environmental sustainability. The switch reduced daily ETH issuance from 13,000 to 1,600 tokens.
Ethereum is currently trading at $3,143, showing slight gains over the past 24 hours. Santiment also details the top 10 crypto gaming projects with the highest development activity over the last 30 days, including MultiversX (EGLD), Decentraland (MANA), Immutable X (IMX), Skale (SKL), and Root Network (ROOT).
Clever Robot News Desk 15th July 2024