25% of Ethereum Supply is now on Staking!: What’s next for ETH?

In this article, learn about Ethereum staking surpassing 25%, the impact of the Dencun upgrade, and ETH's rising value.

Kieth Rean Garcia

Kieth Rean Garcia

February 14, 2024 9:24 AM

25% of Ethereum Supply is now on Staking!: What’s next for ETH?

In this article, we’re going to look at how Ethereum (ETH), a popular digital currency, has reached an exciting point where more than 25% of all the Ethereum out there is now being staked. This means a lot of people are locking up their ETH to help keep the network secure and, in return, they’re earning some rewards. ETH’s price right now is $2,654, and it’s been moving up and down a bit, reaching as high as $2,686.12 and as low as $2,590.00 recently.

Staking Ethereum Made Easy

Ethereum uses a system where people can stake, or lock up, their ETH to help the network run smoothly. Normally, you’d need 32 Ethereum and some special computer equipment to do this. That’s a lot of money and effort! But now, there are easier ways to join in even if you don’t have that much Ethereum or the right equipment. Services like Lido and Rocket Pool, or even big exchanges, let lots of people put their Ethereum together. This way, more people can get involved and earn some extra ETH as a reward.

A Big Milestone for Ethereum

On February 7th, the amount of Ethereum being staked passed a big milestone – over 30 million ETH are now staked. This is a big deal because it shows that people really believe in Ethereum and want to support it. A service called Lido is where a lot of this staking is happening. Also, there are now almost 1 million people helping to check and secure transactions on Ethereum, making it safer and more reliable for everyone.

What’s Making ETH’s Price Go Up?

ETH’s price is doing pretty well at $2,654.01. A lot of this excitement is because of something called the Dencun upgrade coming up on March 13th. This upgrade will make Ethereum work better and could make it cheaper to use. Plus, now that Bitcoin ETFs (a kind of investment fund) were approved, people think Ethereum ETFs might be approved too. This could make even more people interested in buying ETH.

So, with more than 25% of ETH now staked and its price looking good, it’s an exciting time for ETH. There are easier ways to stake ETH, big updates that will make it better, and the possibility of new investment funds. But remember, the price of digital currencies can go up and down a lot, so it’s always good to be careful and learn as much as you can before making any decisions. Ethereum’s journey is definitely something to watch!

Kieth Rean Garcia
Article By

Kieth Rean Garcia

Kieth is an Article Writer, Digital Nomad, Web3 Enthusiast, and NFT Gamer, currently based in the Philippines. Actively involved in the blockchain space for 3 years, his work spans across writing and exploring the potentials of Web3 and NFTs.

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