Ethereum is seeing a big rise in staking, which means investors are locking up their Ether (ETH) for rewards. Around 28.9% of all Ether has been staked as of Oct. 8, a 5.1% increase compared to 23.8% in January.
Interestingly, 15.3% of this staked Ether has been locked away for more than three years. This means holders are doubling their odds on Ethereum despite unpredictable market conditions.
However, Ether’s price hasn’t been performing as well. Back in March 2024, Ether reached over $4,000, but since then, the price has dropped by about 40%. Right now, it is trading at $2400.
Meanwhile, Ethereum’s co-founder, Vitalik Buterin, is trying to make staking easy. In a recent discussion on Oct. 3, he made a suggestion of lowering the requirements for solo staking.
Right now, to stake Ether on your own, you need 32 ETH, which is roughly $80,000. This makes it difficult for many smaller investors. But by reducing the entry point, Buterin hopes to encourage more people to take part in staking without having to rely on staking pools.
Also Read: Ethereum Proposal ‘EIP 7781’ Aims to Reduce Block Timing
