Staked ETH supply tops 33% for first time since Merge
Staked ETH supply on Ethereum has hit a new record: 33.06% of the total ETH supply is now staked, the first time it has exceeded 33% since the Merge. CryptoQuant data shows long-term participation continues to rise, reducing liquid ETH available in the market.
A separate on-chain signal also drew attention. Lookonchain reported a newly created wallet withdrew 9,876 ETH from Binance (about $15.4M) and staked the full amount immediately—suggesting preference for longer-term network positioning over short-term selling.
Despite these staking records, ETH price remains relatively steady near $1,550–$1,571. Analysts cite $1,550 as key support, while $1,700 is the major resistance level that ETH would likely need to reclaim to ease downside risk. Ethereum’s relative strength versus Bitcoin during the recent decline was also highlighted.
Traders should watch for whether the rising Staked ETH supply translates into higher spot demand, and whether ETH can break above $1,700; otherwise, the market may treat the liquidity lock-up as more of a structural backdrop than an immediate catalyst.
Neutral
Staked ETH supply crossing 33% is structurally supportive because more ETH being locked typically lowers circulating supply and can amplify price moves if demand rises. The article also shows a clear “buy-and-stake” behavior (9,876 ETH withdrawn from Binance and staked immediately), which often aligns with longer-term conviction.
However, the key trading signal here is that ETH price is not reacting aggressively yet. With ETH still trading around the $1,550 area and facing a well-defined $1,700 resistance, markets appear to be pricing the liquidity lock-up as background rather than an immediate catalyst—similar to prior cycles where staking growth preceded a delayed breakout.
Short-term implication: traders may remain range-bound between support (~$1,550) and resistance (~$1,700), waiting for confirmation.
Long-term implication: if staking keeps trending upward while spot demand strengthens, the reduced float could improve upside persistence. Until ETH proves demand-driven strength above resistance, the impact is best viewed as neutral rather than outright bullish.