A record 36 million ethereum tokens are now dedicated to staking
The number of ethereum tokens dedicated to staking, the duty to defend the blockchain, has ascended to a high-water mark.
Stakers, who provide security to the network, akin to soldiers in an army according to cofounder Vitalik Buterin, have devoted roughly 36 million tokens — 30% of ethereum’s total supply — to staking, per on-chain data from blockchain explorer beaconcha.in. At current prices, those tokens are worth $119.3 billion.
The new record comes as institutional players grow their share in the staking scene. Ether.fi, a restaking protocol known for its crypto-powered credit card, has added 276,288 tokens in the past month toward security, while leading ethereum treasury firm BitMine Immersion Technologies increased its total staked ETH from 659,219 to 1,256,083 tokens last week, a 90% climb.
Meanwhile, the entry queue stands at 2,348,580 ethereum tokens, making the current wait time to begin staking 40 days and 19 hours.
Ether.fi CEO and cofounder Mike Silagadze told Sherwood News the increase in its staked ethereum comes from institutional deposits, specifically from large family offices and SharpLink Gaming, the second-largest ethereum treasury firm.
The native token for ethereum has seen over $38.5 billion in trading volume in the past 24 hours, with its price jumping more than 6% in that period.
The new record comes as institutional players grow their share in the staking scene. Ether.fi, a restaking protocol known for its crypto-powered credit card, has added 276,288 tokens in the past month toward security, while leading ethereum treasury firm BitMine Immersion Technologies increased its total staked ETH from 659,219 to 1,256,083 tokens last week, a 90% climb.
Meanwhile, the entry queue stands at 2,348,580 ethereum tokens, making the current wait time to begin staking 40 days and 19 hours.
Ether.fi CEO and cofounder Mike Silagadze told Sherwood News the increase in its staked ethereum comes from institutional deposits, specifically from large family offices and SharpLink Gaming, the second-largest ethereum treasury firm.
The native token for ethereum has seen over $38.5 billion in trading volume in the past 24 hours, with its price jumping more than 6% in that period.
