Ethereum staking has just smashed a new record, locking up a staggering $118 billion worth of ETH. This means nearly 30% of all circulating Ether is now staked, a clear sign that investors aren't planning to sell anytime soon. It looks like the market is collectively hitting the 'HODL' button so hard it might break.
The network's staking queue is also packed, with 2.3 million ETH waiting to be staked and active validators hitting 976,117. This surge in participation underscores a strong, long-term bullish sentiment for the network. Basically, the line for the staking party is out the door and around the block.
Leading the charge is BitMine Immersion, which just added another 154,304 ETH (worth about $514 million) to its staking portfolio. This brings the company's total staked ETH to a massive 1.685 million ETH, valued at over $5.6 billion. Someone clearly isn't worried about liquidity crunches.
BitMine's continuous staking spree, alongside its accumulation of ETH for its treasury, is a major driver behind the record-high staking figures. With the company signaling it will stick to this strategy, Ethereum's staking numbers are poised to climb even higher. It seems they are trying to single-handedly reduce the circulating supply.
