IntoTheBlock, a onchain data provider, reports that 28.9 percent of all Ether has been staked, indicating a strong tokenholder dedication to the cryptocurrency. The figure is higher than the 23.8% in January, which means that staked Ether has increased by 5.1% in the past ten months.
According to IntoTheBlock, 15.3 percent of the staked Ether has been locked for more than three years, indicating ‘long term confidence’ in Ethereum’s future. Even with such growing interest in staking, most crypto prices have recently seen a dip. Major support in the first half of 2024, but Ether hasn’t been without its problems in October.
Ethereum Price Breaks $4,000
On March 12 the cryptocurrency broke above $4,000 on an annual high, having since fallen 40 per cent to around $2,400. The price drop could be attributed to analysts say to selling pressure from initial coin offering participants along with a lack of demand for spot Ether exchange traded funds.
Addressing that, Ether’s price tanked to the tune of 12% between October 1 and 3 — since failing to nail the $2,650 resistance level, erasing gain tracked in previous weeks. In this other news, Ethereum co-founder Vitalik Buterin called to decrease the staking standards to solo staking.
Specifically, he participated in a discussion on X to emphasize that it needs to reduce the minimum amount of Ether required for individuals to stake ($80,000), which currently sits at 32 ETH. He did acknowledge, however, that staking’s high threshold could be a barrier to wider staking participation, even with staking pools available for those with lesser amounts.
