Nearly One-Third Of Ether Now Staked As Long-Term Confidence Grows

According to Cointelegraph, almost a third of all Ether (ETH) has been staked, reflecting tokenholders' long-term interest in the crypto asset and the rewards they can gain. On October 8, onchain data provider IntoTheBlock reported that 28.9% of all Ether had been staked. This marks an increase from January when the percentage was 23.8%, indicating an additional 5.1% of ETH has been staked over the past ten months. IntoTheBlock also noted that 15.3% of staked ETH had been staked for over three years, suggesting strong long-term confidence in Ethereum's future. Despite the rising interest in staking, the prices of crypto assets have declined. ETH, which showed significant strength in the first half of 2024, faced challenges in October. On March 12, ETH reached a yearly high, trading above $4,000. However, the asset has since dropped by 40%, with its price hovering around $2,400. Analysts attribute the recent decline to sell pressure from initial coin offering participants and a lack of demand for spot Ether exchange-traded funds. Between October 1 and October 3, ETH's price fell by 12% after failing to surpass $2,650, erasing gains from the previous two weeks. Meanwhile, Ethereum co-founder Vitalik Buterin has recently supported the idea of lowering the requirements for solo staking. On October 3, Buterin participated in a discussion on X about solo staking, acknowledging the importance of reducing the minimum ETH requirements for investors to stake alone. Currently, staking pools are available for users with fewer funds, but those who wish to stake independently need 32 ETH, worth almost $80,000. Buterin recognized that this high requirement might deter broader participation in staking.