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The Ethereum staking narrative has gained significant momentum, with 25% of the circulating supply now staked, marking a substantial milestone. Liquid staking platform Lido’s data reveals over 30 million ETH staked, valued at approximately $73 billion at current prices. This milestone is advantageous for ETH holders as it indicates increased network security and potential for passive income through staking rewards. With 940,563 validators securing the network, Ethereum’s decentralization is strengthened. Additionally, the unstaking queue’s depletion suggests minimal risk of significant ETH withdrawals, ensuring stability. Blockchain analytics firm Nansen corroborates this data, reporting a similar staking percentage and diminished unstaking queue. Ultrasound.Money offers slightly conservative figures but highlights a significant decrease in Ethereum’s supply since the Merge in September 2022, contributing to deflationary pressure and reinforcing ETH’s scarcity narrative. Furthermore, the ongoing burn rate of ETH adds to this scarcity, with approximately $10 million worth of ETH burnt in the past 24 hours. Overall, this milestone underscores Ethereum’s robust staking ecosystem and its potential benefits for ETH holders in terms of security, stability, and deflationary dynamics.
