Price is down, staking is at a record high. Which one is lying?
A record 43.8M $ETH is now staked, 35.9% of total supply (Bitwise). Another 1.39M ETH waits in the entry queue, a 24+ day wait, even as yield slipped to 2.63%.
Institutions are doing the locking: staking ETFs and treasuries like Bitmine (5.23M ETH), while ETH trades at $2,342, down 2.5% in 24h.
My take: locked supply shrinks the sellable float, and a 24-day queue is demand you can measure. But one record doesn't flip a trend, and yields keep thinning as the ratio climbs toward 50%.
Is the queue the real bull signal, or is 2.63% too thin to hold it? đđ»
Not financial advice. DYOR.
#Ethereum #crypto #Staking
A record 43.8M $ETH is now staked, 35.9% of total supply (Bitwise). Another 1.39M ETH waits in the entry queue, a 24+ day wait, even as yield slipped to 2.63%.
Institutions are doing the locking: staking ETFs and treasuries like Bitmine (5.23M ETH), while ETH trades at $2,342, down 2.5% in 24h.
My take: locked supply shrinks the sellable float, and a 24-day queue is demand you can measure. But one record doesn't flip a trend, and yields keep thinning as the ratio climbs toward 50%.
Is the queue the real bull signal, or is 2.63% too thin to hold it? đđ»
Not financial advice. DYOR.
#Ethereum #crypto #Staking