- Stacking has become an important part of Ethereum’s ecosystem since the Merge upgrade took place in 2022.
- This is quite evident since 500,000 ETH have been staked since this month began, leading to a total of 35 million staked ETH.
Ethereum staking is a process where ETH holders lock up their coins to help secure the Ethereum network and, in return, earn rewards. It became central to Ethereum after the network transitioned from Proof of Work (PoW) to Proof of Stake (PoS) in a major upgrade known as “The Merge” in September 2022.
According to a new report from CryptoQuant, a leading South Korean crypto analytics firm, the first half of June alone has seen over 500,000 ETH staked, a major vote of confidence from investors. This fresh injection has pushed the total amount of staked ETH past 35 million, a historic all-time high.
CryptoQuant also notes that Accumulation Addresses, wallets that have never sold a single ETH, have reached their own record, now holding a staggering 22.8 million ETH. These addresses represent long-term believers. They’re not flipping ETH for quick profits; they’re locking it away and waiting patiently. This trend points to growing conviction among Ethereum holders, many of whom see ETH not just as a tradable asset but as a store of value.
For almost a full week now, whales have been scooping up massive amounts of ETH on a daily basis. According to more data shared in a post on X, wallets holding between 1,000 and 10,000 ETH have been steadily increasing their holdings, with daily net inflows exceeding 800,000 ETH.
This surge in accumulation has pushed the total ETH held by these mid-sized whales to over 14.3 million ETH. This is a major milestone that signals deep confidence in Ethereum’s long-term potential. The real eye-opener came on June 12, when these whales added a jaw-dropping 871,000 ETH to their collective wallets, the single largest daily inflow so far this year. To put that into perspective, CryptoQuant stated that it’s a level of activity that hasn’t been witnessed since the 2017 bull market era.
Market Cools Off Despite Headlines
According to a recent report by Crypto News Flash, SharpLink has officially confirmed the purchase of a staggering 176,270 Ethereum (ETH), a move that instantly makes it the largest Ethereum holder among all publicly traded companies, excluding the Ethereum Foundation.
The acquisition, which was tracked and verified on-chain by CryptoQuant, is estimated to be worth around $463 million. This not only highlights SharpLink’s long-term confidence in Ethereum but also signals a growing trend of corporate interest in digital assets beyond just Bitcoin.
Even with the upbeat headline about SharpLink’s Ethereum purchase, the market is showing a bit of chill. ETH is currently sitting at $2,554.58, down about 3.34% in the last day. The next big test?
A breakout above $2,707 could launch the token into its next rally, but if ETH can’t hold $2,660, we might be looking at extended consolidation. Ethereum’s total market cap has dipped to $308.39 billion, a modest fall of 2.34%, and trading volume has cooled off with $24.04 billion traded in the last 24 hours, a nearly 30% drop.
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