Ethereum investors showed a significant willingness to stake their holdings, thereby strengthening ETH's narrative as a long-term savings option.
More than 60% of the stakers were in losses since they staked their ETH.mainnet more than two months ago, has begun to advance towards its goal of boosting ETH staking.According to on-chain analytics firm Glassnode, the total ETH locked on the largest proof-of-stake network surged past 26 million at the time of writing. This represented an impressive 18% jump from the day Shapella Upgrade was executed.
At the time of publication, the total amount staked accounted for nearly 21% of ETH’s total circulating supply. However, the increase in staking was not only due to deposits from existing stakers. Additional data revealed that there has been a sizable growth in the number of new addresses depositing 32 ETH to the Ethereum smart contract. While the pace has evidently slowed down since the initial excitement, it is still higher than the 2022 average figures.A possible reason behind the persistence with staking could be that several stakers were underwater.
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