Ethereum staking is close to hitting an all-time high, with over 33,28 million ETH tokens currently locked on the blockchain network.
According to data from the Dune Analytics platform, the amount of ethers that are staked in Ethereum currently represent around 27,8% of the total supply of the cryptocurrency in the market.
The number of ethers locked on the blockchain has been increasing, as the Ethereum ecosystem experiences a pivotal moment with the approaching listing of spot ETFs, one of the most significant current developments for the cryptocurrency, which aim to growing adoption and institutional interest.
About 28% of existing Ether is staked
Ethereum staking surpassed the 30 million ETH mark in February and has been on the rise ever since, reflecting investors' confidence in this blockchain network and their willingness to commit their digital assets for the long term. The number of validators has also been increasing, currently exceeding more than one million and forty thousand validators.
Source: Dune Analytics
In the world of cryptocurrencies, staking is known as the process of depositing and blocking an amount of ETH for a certain time in order to contribute to the validation of transactions and the security of a blockchain network.
In the case of Ethereum, the increase it is experiencing in ether staking coincides with the approval of the cryptocurrency's exchange-traded investment funds in the United States and with an increase in the estimated reward rate, which has risen from 2,48 % to 2,60% in the last month.
Currently, of the 33,28 million ethers staked, 29% are locked through the Lido platform, which is raising new concerns about the centralization of the blockchain.
Ethereum spot ETFs to list in the US next week
To date, the United States Securities and Exchange Commission (SEC) has given green light to 10 Ethereum spot ETF, who are waiting for their authorization to be able to begin trading on the regulated stock exchanges in the country.
In May, the SEC partially approved 8 ETF applications for Ethereum. Recently, the securities regulator greenlit two more funding applications for the cryptocurrency, reinforcing the growing acceptance of Ether as an investment asset.
After this series of approvals, the crypto community and the market in general remains in anticipation of the imminent launch of spot ETFs, which could begin trading in the United States on July 23.
The SEC has reportedly taken a significant step by approving Forms 19b-4 for Ethereum ETFs that will soon be listed on different exchanges in the country. Fund issuers looking to launch these investment vehicles have been filing final versions of their registration forms for Ethereum ETFs this week, with the hope that these products will tentatively list starting next Tuesday.
Experts believe that the official launch of these investment vehicles could massively attract capital to the cryptocurrency market in the first months of operations, in addition to driving the price of ETH above $5.000 per unit, depending on the possibilities.
