Ethereum just hit a major milestone — over 35 million ETH are now locked in staking. Meanwhile, this sudden rise, with 500,000 ETH staked in just two weeks, points to growing confidence in the network. At the same time, long-term holders are stacking ETH without selling a single coin.
But what does this mean for Ethereum’s price?
According to the data from on-chain analytics firm CryptoQuant, in the first half of June alone, more than 500,000 ETH were added to Ethereum’s staking contract. This pushed the total staked amount to an all-time high of over 35 million ETH.
This is a big deal because staking locks up coins, taking them out of circulation. With fewer ETH available for trading, the liquid supply drops, and that could create upward price pressure, especially if demand increases.
Another strong signal comes from accumulation addresses — these are wallets that have never sold any ETH. According to on-chain data, these addresses now hold a record 22.8 million ETH.
This suggests that a large group of Ethereum holders are not just bullish — they’re in it for the long run. They’re not taking profits or reacting to short-term market moves. They’re quietly building their stack and waiting.
Ethereum price is holding steady above a rising support line near $2,556, which shows that buyers are still active. If the price manages to break past $2,660, it could quickly climb toward $2,720. A strong push above that level might even take ETH to $2,800 in the short term.
But if Ethereum fails to move above $2,500, it might fall again. In that case, ETH support is around $2,460.
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