Ethereum staking has hit a record high, with about 30 percent of the total circulating ETH supply locked up, The Block reported on Tuesday.
Staked ether has now surpassed 36 million tokens, representing a market value of more than $118 billion. The Block said staking growth was also supported by an 11 percent rise in ether since the start of the year and a surge of more than 5 percent over the past 24 hours.
The Ethereum network currently has more than 900,000 active validators, with an additional 2.3 million ETH waiting. By contrast, the validator exit queue remains at a record low.
Institutional investors are a major driver of the spread of Ethereum staking. BitMine Immersion has recently drawn attention as it rapidly expands its ether holdings and staking scale. It currently holds 4.17 million ETH, with more than 1.25 million of that staked.
Chi-gyu Hwang
delight@d-today.co.kr