Breaking: $70 Million Worth of Ethereum Unleashed from Staking – How Will It Shape the Market?

By Coin Edition
10 days ago
ETH TOKEN 2024 TOKEN MM
  • Ethereum staking hits 30M ETH, bolstering network security and reducing circulating supply.
  • Restacking narratives are boosted with a $707M staking category on CoinGecko.
  • Despite trading below the peak, Ethereum sees a 6.69% price uptick post-staking milestone.

According to a crypto sleuth, Token Unlocks, the Ethereum ecosystem is witnessing a significant event. About 30,000 ETH worth over $70 million is scheduled to be unlocked from staking in five hours. This event highlights the staggering growth of Ethereum’s staking mechanism, with just over 25% of the entire Ethereum supply, equivalent to approximately 30 million coins, now staked for network security.

Over the last 24 hours, Ethereum’s price has decreased by 1.42% and is currently valued at $2,481.19. According to Lido’s previous reports, one of the leading liquid s…

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