- 77.85M ETH staked, up 38% in a year, showing strong long-term confidence in Ethereum’s network.
- Price consolidates near $3,330–$3,400; traders watch key levels for potential momentum plays.
- ETH/BTC bounce may shift market sentiment if support holds, highlighting short-term tactical opportunities.
Ethereum faces heightened attention as its Proof-of-Stake deposit contract now holds 77.85 million ETH, valued at over $256 billion, marking a 38.4% increase in coins staked over the past year. According to Santiment, this wallet secures ETH for validators who maintain network integrity. Its size often sparks debate, with some incorrectly labeling it as a “whale” wallet.
These coins, however, cannot instantaneously flood exchanges; withdrawals take place gradually via validator exits, which are carefully rate-limited by the protocol. As a result, even if almost half of Ethereum’s supply is concentrated in one location, this suggests that long-term staking is becoming more popular than short-term liquidity issues.
Nevertheless, concerns linger about potential withdrawal queues. Bears warn that sharp price declines could trigger multiple validator exits simultaneously. In such cases, ETH re-entering circulation may face delays, which could influence supply and pricing dynamics.
Santiment framed the discussion with optimism: “Almost half of ETH is locked by people who believe and trust in Ethereum’s network long term.” Yet, the counterpoint remains: “So much ETH is locked into staking that if many holders decide to exit in the future, it could have an outsized impact on supply and price.”
Price Action and Short-Term Market Sentiment
Ethereum’s price continues to consolidate within a tight range. Analyst Lennaert Snyder noted, “$ETH is still moving in a tight range. I don’t have the same bullish trigger as with BTC, but Ethereum is holding quite well here.” Snyder highlighted key levels, suggesting traders watch for gains above $3,330 and potential moves toward the $3,400 high. He also mentioned opportunities to enter longs around $3,275 lows or reclaiming the $3,450 high, indicating higher-low setups for momentum plays.
Additionally, ETH’s performance against Bitcoin remains under scrutiny. CryptoELlTES observed, “ETH/BTC is sitting at a level that has mattered every time before. Downtrend is still there, but the reaction from support is clear.” Hence, if the bounce holds, Ethereum could regain strength versus Bitcoin, shifting market sentiment quickly.
