The price fell below $2,200, yet the amount of ETH locked up hit a record—this whale just can’t make sense of ETH holders these days 🐋
$ETH ETH is currently trading at around $2,050. On November 10, it briefly plunged to $2,006, losing the $2,200–$2,220 support zone. It’s down about 16% in a month.
But on the other hand, CryptoQuant data shows that 36.32% of all ETH is locked in staking—about 44 million ETH, a record high and up 4.32 percentage points since May. Another roughly 1 million ETH is waiting to enter the validator queue, with an 18-day wait.
This whale’s take: falling prices and rising staking levels suggest these holders are betting not on next week’s price, but on whether ETH can stay in the game. But here’s a reality check: staking inflows have actually fallen 40%, and network revenue dropped from $63 million to $40.6 million in a quarter. More ETH locked up doesn’t mean more profits. If ETH can’t hold $2,000, even the faithful will have to pay some tuition first.
$ETH ETH is currently trading at around $2,050. On November 10, it briefly plunged to $2,006, losing the $2,200–$2,220 support zone. It’s down about 16% in a month.
But on the other hand, CryptoQuant data shows that 36.32% of all ETH is locked in staking—about 44 million ETH, a record high and up 4.32 percentage points since May. Another roughly 1 million ETH is waiting to enter the validator queue, with an 18-day wait.
This whale’s take: falling prices and rising staking levels suggest these holders are betting not on next week’s price, but on whether ETH can stay in the game. But here’s a reality check: staking inflows have actually fallen 40%, and network revenue dropped from $63 million to $40.6 million in a quarter. More ETH locked up doesn’t mean more profits. If ETH can’t hold $2,000, even the faithful will have to pay some tuition first.
