Ethereum Staking Reaches Record Highs as 32.8M ETH Locked Away
Ethereum staking has reached ATH levels, with more than 32.8 million ETH — valued at over $100 billion — now locked and removed from active circulation, according to crypto trader Merlijn The Trader.
The milestone comes as much of the market’s attention remains fixated on speculative meme coins and short-term volatility. In contrast, long-term holders and institutional players appear to be engaging in quiet accumulation, reinforcing ETH’s role as a core Layer 1 asset.
“While the herd chases memecoins, smart money stacks and locks Ethereum,” Merlijn noted in a June 7 post on X.
Supply Squeeze Building?
With over $100B+ in ETH staked, a massive portion of the total supply is now effectively illiquid. This ongoing reduction in tradable ETH could add upward pressure to price in the long term, especially if demand rises during the next market leg up.
The staking data, illustrated by a chart from Beaconcha.in, shows a steady and uninterrupted rise in staked ETH balances since December 2020, with acceleration through 2024 and into mid-2025.
Strategic Implications
As Ethereum transitions deeper into proof-of-stake dynamics, staking participation reflects growing network security and long-term investor conviction. With staking yields, institutional adoption, and layer-2 scaling all evolving, the Ethereum ecosystem may be quietly setting the foundation for a renewed breakout.
“Don’t sleep through the quiet accumulation,” Merlijn warned.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
