- 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.
#Ethereum Unlocks AlertIn just 5 hours, a massive ~30,000 $ETH valued over $70 million will be unlocked from staking
Don't miss out any #ETH unlocks on https://t.co/SF9adXUyaE
Who's making this massive withdrawal ?
Share your guesses in the comments below ; pic.twitter.com/GkaFBuNbdf
— Token Unlocks (@Token_Unlocks) February 12, 2024
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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