Ethereum has reached a significant milestone with over 35 million ETH staked, representing 30% of the total supply. This surge in staking has been facilitated by the recent upgrade, promoting whale acquisitions and reinforcing ETH’s scarcity.
Despite increased on-chain activity and significant whale buying, ETH struggles to break the $2,500 resistance barrier. The price stagnation raises concerns about ETH’s competitiveness compared to other blockchain networks.
Whales continue to accumulate ETH, adding to supply constraints. There is optimism regarding a price breakout, with predictions suggesting ETH could potentially rise to $10,000.
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