The ratio grew close to 5 percentage points in the last 12 months.
Adding up the ETH in company reserves, about 38% of the total supply is locked.
The ratio of ether (ETH) staking to total supply surpassed the 32% threshold for the first time since Ethereum adopted the Proof-of-Stake (PoS) consensus mechanism, according to data from Token Terminal. This milestone would imply that a third of the ETH in circulation is blocked and destined for chain validation.
Currently, some 38.9 million ETH, equivalent to USD 89.47 billion, are locked in the network and make up that percentage of the staking ratio, while the circulating of ether exceeds 120 million tokens.
In this context, Leon Waidmann, researcher of the Ethereum ecosystem, pointed out that if the 6.6 to 7.4 million ETH that, according to their analysis, are held in corporate treasuries are added, about 38% of the total ETH supply would effectively be out of the liquid market.
According to his interpretation, this volume generates a structural blockage of the supply, since those who stake their ETH historically do not unlock them during price drops, and corporate treasuries do not sell due to short-term volatility. The result, according to Waidmann, is that the portion of ETH actually available to buy and sell on the market contracts persistentlyregardless of what happens with the price.
Additionally, Waidmann contributed that the levels reached by The staking ratio grew close to 5 percentage points in the last 12 months.
At the close of this writing, nearly 2.7 million additional ETH await get into to stakingwhile some 179,000 coins are in the exit queue, a considerable difference that reinforces the current interest in participating in Ethereum. The staking also contains a design that prevents those who want to enter or leave it from having these actions carried out immediately, to mitigate the impact that the entries or exits of ETH would have on the validation of Ethereum.
Greater staking strengthens the security of the network, as the more ETH that is locked, the more costly it is for a malicious actor to accumulate the validation power needed to attack it.
At the market level, with historical maximum levels in staking and if the demand for ETH remains or grows, the reduction in available supply can push the price up. However, this dynamic operates in the opposite direction if stakers decide to massively unlock their positions, returning ETH to the market. Currently, with ETH trading at USD 2,300, it is far from its all-time high of USD 4,900, marked in August 2025.
Finally, as CriptoNoticias reported in January 2026, staking had then reached an all-time high close to 36 million ETH, equivalent to 30% of the supply. In less than four months, that percentage grew by 2%, with almost 3 million additional ETH locked.