The staking activity for ETH has diverged from its price movements. As of now, ETH is valued at $2,539, reflecting a decline of 23.41% over the past week.
The proportion of staked ETH has reached an all-time high of 27.95%. This surge comes after a slight dip two weeks prior, on July 21, when the staking percentage fell from 27.58% to 26.82%, marking a decrease of 0.76%. Since that time, not only has it rebounded, but it has also surpassed previous records. Notably, there has been a 1.9% increase in the amount of ETH staked since the introduction of ETH ETFs.
It is important to emphasize that the trend in ETH staking has become independent of its price fluctuations, similar to the behavior seen in the Bitcoin network’s transaction volume. Currently, ETH is priced at $2,539, down 23.41% over the last week according to data from CMC. In contrast, the percentage of staked ETH has risen nearly 2%, climbing from 26% to around 28%.
Consistent Growth
With approximately 120.25 million ETH in circulation, a 2% increase in staked ETH equates to nearly $7 billion. This ongoing growth in the staked ETH supply directly influences both restaking and liquid staking protocols.
At present, the total value locked (TVL) in the liquid staking sector stands at $52.27 billion, an increase of 60% from the $32.68 billion recorded at the start of the year. Remarkably, the TVL for the liquid restaking segment surged from $1.34 billion to $18.65 billion, representing an astounding growth of over 1,200% during the same period.
Among the top performers, Eigenlayer has made a significant impact, with its TVL skyrocketing from $1.4 billion in January 2024 to $15.97 billion in July, achieving more than tenfold growth.
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